Surge in Open Interest Signals Increased Activity for Marico Ltd. Amid Market Challenges

Marico Ltd., a prominent player in the FMCG sector, has experienced a notable increase in open interest today. The latest open interest stands at 23,465 contracts, reflecting a rise of 2,427 contracts or 11.54% from the previous open interest of 21,038. This surge in open interest comes alongside a trading volume of 20,788 contracts, indicating heightened activity in the stock.
Despite this uptick in open interest, Marico's stock has underperformed its sector by 0.25%, continuing a downward trend with a 2.3% decline over the past three days. The stock reached an intraday low of Rs 696, marking a decrease of 2.03% during the trading session.

In terms of moving averages, Marico's stock is currently above the 20-day, 50-day, 100-day, and 200-day moving averages, yet it remains below the 5-day moving average. Additionally, the stock has shown rising investor participation, with a delivery volume of 14.68 lakh shares on April 30, up 10.5% compared to the 5-day average.

With a market capitalization of Rs 90,550.82 crore, Marico continues to be a significant entity in the FMCG landscape, reflecting both the challenges and dynamics of the current market environment.