MRF Ltd. Sees Surge in Open Interest Amid Increased Trading Activity
MRF Ltd. has seen a notable rise in open interest, reaching 19,234 contracts, alongside a trading volume of 29,436 contracts today. The stock is currently trading near its 52-week high, showing resilience despite an initial loss. However, delivery volume has decreased, indicating changing investor dynamics.
MRF Ltd., a prominent player in the Tyres & Allied industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 19,234 contracts, marking a notable rise of 4,240 contracts or 28.28% from the previous open interest of 14,994. The trading volume for the day reached 29,436 contracts, contributing to a total futures value of approximately Rs 50,818.12 lakhs.In terms of price performance, MRF is currently trading just 2.52% below its 52-week high of Rs 143,849.90. Despite opening the day with a loss of 2.59%, the stock rebounded to touch an intraday high of Rs 141,500, reflecting a gain of 4.82% at its peak. The stock's weighted average price indicates that more volume was traded closer to the lower end of the day's range.
Additionally, MRF is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong technical position. However, delivery volume has seen a decline of 33.16% compared to the 5-day average, indicating a potential shift in investor participation. Overall, the increase in open interest alongside the stock's performance metrics highlights a dynamic trading environment for MRF Ltd.
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