Mazagon Dock Sees Surge in Open Interest Amid Increased Market Activity
Mazagon Dock Shipbuilders Ltd has seen a notable rise in open interest, indicating increased trading activity, with current open interest at 18,564 contracts. The stock has recently reversed a downward trend, trading above several moving averages, while the shipbuilding sector has also experienced gains. The company's market capitalization stands at approximately Rs 1,39,190.30 crore.
Mazagon Dock Shipbuilders Ltd (symbol: MAZDOCK) has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 18,564 contracts, up from the previous open interest of 16,450, marking a change of 2,114 contracts or a 12.85% increase. The trading volume for the day reached 23,490 contracts, indicating robust participation in the market.In terms of price performance, Mazagon Dock has underperformed its sector by 1.59%, despite a recent trend reversal, as the stock gained after two consecutive days of decline. The stock touched an intraday high of Rs 3,478.3, representing a 2.77% increase. Notably, the stock is currently trading above its 20-day, 50-day, 100-day, and 200-day moving averages, although it remains below its 5-day moving average.
The shipbuilding sector overall has seen a gain of 3.55%, while Mazagon Dock's liquidity remains adequate for trading, with a delivery volume of 12.24 lakh shares, down 15.26% from the 5-day average. The company's market capitalization is approximately Rs 1,39,190.30 crore, positioning it as a large-cap player in the Aerospace & Defense industry. Overall, the notable increase in open interest highlights a shift in market dynamics for Mazagon Dock Shipbuilders.
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