Surge in Open Interest Signals Increased Market Activity for Marico Ltd.
Marico Ltd. has seen a significant rise in open interest in its futures market, reaching 36,784 contracts, alongside a trading volume of 16,301 contracts. Despite recent price declines and underperformance relative to its sector, the stock remains above several key moving averages, indicating ongoing market engagement.
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 36,784 contracts, reflecting a notable rise of 7,170 contracts or 24.21% from the previous open interest of 29,614. This surge coincides with a trading volume of 16,301 contracts, indicating robust engagement from market participants.In terms of price performance, Marico's stock is currently trading just 4.12% below its 52-week high of Rs 759. However, it has underperformed its sector by 0.37% today, with a slight decline of 0.23% in its one-day return. The stock has faced a consecutive fall over the past three days, accumulating a total decline of 3.04%. It has traded within a narrow range of Rs 6.2 during the session.
Despite these challenges, Marico's stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average. The liquidity remains adequate for trading, with a delivery volume of 10.88 lakh shares, which has decreased by 6.87% compared to the five-day average. Overall, the increase in open interest highlights a notable shift in market dynamics for Marico Ltd.
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