Surge in Open Interest Signals Increased Trading Activity for Marico Ltd.
Marico Ltd., a key player in the Edible Oil sector, has seen a notable rise in open interest, indicating increased trading activity. The stock is trading close to its 52-week high and has shown consistent gains over the past week, despite a decline in delivery volume.
Marico Ltd., a prominent player in the Edible Oil industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 26,988 contracts, up from the previous figure of 24,063, marking a change of 2,925 contracts or a 12.16% increase. The trading volume for the day reached 10,822 contracts, contributing to a futures value of approximately Rs 53,215.26 lakhs.In terms of price performance, Marico is currently trading just 4.27% below its 52-week high of Rs 740.2. The stock has shown consistent gains over the past six days, accumulating a total return of 3.36% during this period. Notably, Marico is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is worth mentioning that there has been a decline in investor participation, with delivery volume dropping by 33.72% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 2.21 crore, reflecting its robust market position. Overall, the surge in open interest highlights a notable shift in trading dynamics for Marico Ltd.
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