Nestle India Sees Surge in Open Interest Amidst Mixed Market Performance
Nestle India Ltd has seen a notable rise in open interest, reaching 65,470 contracts, alongside a trading volume of 106,466 contracts, indicating strong market activity. The company, with a market capitalization of Rs 2,35,100.08 crore, is trading above several moving averages despite a slight decline in stock performance.
Nestle India Ltd, a prominent player in the FMCG sector, has experienced a significant increase in open interest today, signaling notable trading activity. The latest open interest stands at 65,470 contracts, reflecting a rise of 7,115 contracts or 12.19% from the previous open interest of 58,355. This uptick coincides with a trading volume of 106,466 contracts, indicating robust market engagement.In terms of financial metrics, Nestle India has a market capitalization of Rs 2,35,100.08 crore, categorizing it as a large-cap stock. The underlying value is reported at Rs 2,322. While the stock's performance today is in line with the sector, it has shown a slight decline of 0.57%, compared to a sector decline of 0.67% and a Sensex drop of 0.59%.
Additionally, the stock is trading above its 50-day, 100-day, and 200-day moving averages, although it is below its 5-day and 20-day moving averages. Notably, there has been a decline in investor participation, with delivery volume dropping by 40.27% against the 5-day average. Overall, the increase in open interest for Nestle India reflects heightened trading activity amidst a mixed performance landscape.
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