Marico Ltd. Sees Surge in Open Interest Amid Increased Futures Market Activity

Marico Ltd., a prominent player in the edible oil industry, has experienced a significant increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 33,278 contracts, reflecting a rise of 3,510 contracts or 11.79% from the previous open interest of 29,768. This uptick coincides with a trading volume of 21,608 contracts, indicating robust participation in the market.
In terms of price performance, Marico is currently trading close to its 52-week high, just 3.69% away from the peak of Rs 759. However, the stock has underperformed its sector by 0.49% today, with a 1D return of -0.75%. Over the past two days, Marico has seen a consecutive decline, with a total drop of 2.64%. The stock reached an intraday low of Rs 724.65, down 2.03% from the previous close.

Despite these fluctuations, Marico is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a stable long-term trend. The liquidity remains favorable, with a delivery volume of 18.82 lakh shares on August 21, marking a 90.57% increase compared to the 5-day average. Overall, the notable rise in open interest reflects a dynamic trading environment for Marico Ltd.