Marico Ltd Sees Significant Open Interest Surge Amid Rising Market Momentum

Open Interest and Volume Dynamics

On 20 Feb 2026, Marico’s open interest in futures and options contracts rose sharply to 38,434 from the previous 34,052, marking a substantial increase of 12.87%. This spike in OI is accompanied by a daily volume of 22,803 contracts, reflecting heightened trading activity. The futures value stood at approximately ₹1,10,531.7 lakhs, while the options segment contributed an overwhelming ₹10,561.63 crores, culminating in a total derivatives value of ₹1,11,124.5 lakhs. Such figures underscore robust liquidity and active participation in the stock’s derivatives market.

Open interest growth of this magnitude often indicates fresh capital entering the market, either through new long positions or short covering. Given Marico’s underlying price movement, which closed just 1.24% shy of its 52-week high at ₹789, the increased OI suggests that traders are positioning for a potential continuation of the uptrend.

Price and Moving Average Trends

Marico’s price performance today was broadly in line with its sector peers, registering a 1.13% gain compared to the edible oil sector’s 0.97% and the Sensex’s 0.42% rise. The stock is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a strong bullish momentum across multiple timeframes. This technical backdrop supports the notion that the recent OI surge is underpinned by genuine buying interest rather than speculative short-term trading.

Investor participation has also risen, with delivery volumes on 19 Feb reaching 9.22 lakh shares, a 12.38% increase over the five-day average. This uptick in delivery volumes indicates that more investors are holding shares for the longer term, reinforcing confidence in the stock’s fundamentals and growth prospects.

Market Capitalisation and Quality Assessment

Marico Ltd. is classified as a mid-cap stock with a market capitalisation of ₹1,01,454 crores. Its current Mojo Score stands at 67.0, reflecting a Hold rating, an upgrade from the previous Sell grade assigned on 9 Dec 2025. The market cap grade is 2, indicating moderate size and liquidity. This upgrade suggests that while the stock is not yet a strong buy, it has improved in quality and is attracting more favourable analyst sentiment.

Interpreting the Open Interest Surge: Directional Bets and Market Positioning

The 12.87% increase in open interest, alongside rising volumes and a price close to the 52-week high, suggests that market participants are increasingly bullish on Marico. Traders may be initiating fresh long positions in anticipation of further upside, supported by the stock’s strong technicals and sectoral tailwinds.

Alternatively, some of the OI increase could stem from short sellers covering positions, which would also contribute to upward price pressure. However, the sustained rise above key moving averages and increased delivery volumes point more convincingly towards genuine accumulation rather than short covering alone.

Options market data, with an options value exceeding ₹10,561 crores, indicates significant hedging and speculative activity. The high notional value in options contracts suggests that investors are actively managing risk while positioning for directional moves. This complexity in market positioning often precedes notable price movements, making Marico a stock to watch closely in the near term.

Liquidity and Trade Size Considerations

Marico’s liquidity profile remains robust, with the stock’s traded value comfortably supporting trade sizes up to ₹2.17 crores based on 2% of the five-day average traded value. This level of liquidity ensures that institutional and retail investors can execute sizeable trades without significant market impact, further encouraging participation in both cash and derivatives markets.

Sectoral Context and Comparative Performance

The edible oil sector has shown resilience amid fluctuating commodity prices and changing consumer preferences. Marico’s performance today, slightly outperforming the sector average, reflects its strong brand presence and operational efficiency. The company’s ability to maintain upward momentum in a competitive sector enhances its appeal to investors seeking stable growth opportunities.

Outlook and Investor Takeaways

Marico’s recent open interest surge and accompanying volume patterns indicate a market increasingly confident in the stock’s near-term prospects. The upgrade in Mojo Grade from Sell to Hold, combined with a solid Mojo Score of 67.0, reflects improving fundamentals and technical strength. Investors should monitor the stock’s ability to sustain momentum above key moving averages and watch for any shifts in derivatives positioning that could signal changes in market sentiment.

While the stock is trading close to its 52-week high, the rising delivery volumes and liquidity profile suggest that the uptrend has room to extend. However, investors should remain cautious of broader market volatility and sector-specific risks, including commodity price fluctuations and regulatory developments impacting the edible oil industry.

In summary, Marico Ltd. presents a compelling case for investors seeking exposure to a mid-cap edible oil company with improving market positioning and active derivatives participation. The surge in open interest and volume signals fresh directional bets that could translate into sustained price appreciation, provided the company continues to deliver on operational and financial fronts.

Key Metrics at a Glance:

• Open Interest: 38,434 (up 12.87%)
• Volume: 22,803 contracts
• Futures Value: ₹1,10,531.7 lakhs
• Options Value: ₹10,561.63 crores
• Underlying Price: ₹789 (1.24% below 52-week high)
• Mojo Score: 67.0 (Hold, upgraded from Sell on 09 Dec 2025)
• Market Cap: ₹1,01,454 crores (Mid Cap)
• Delivery Volume (19 Feb): 9.22 lakh shares (+12.38% vs 5-day avg)
• Liquidity: Supports trade size up to ₹2.17 crores

Investors and traders should continue to analyse open interest trends alongside price and volume action to gauge the sustainability of Marico’s current momentum and adjust their strategies accordingly.

Only Rs. 9,999 - Get MojoOne for 1 Year + 3 Months FREE (60% Off) Start Today