Nestle India Sees Surge in Open Interest Amid Increased Trading Activity
Nestle India Ltd has seen a notable rise in open interest, reaching 83,318 contracts, alongside a trading volume of 105,414 contracts, indicating increased market activity. The stock has outperformed its sector and is trading above key moving averages, despite a decline in delivery volume compared to recent averages.
Nestle India Ltd, a prominent player in the FMCG sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 83,318 contracts, marking a notable rise of 14,472 contracts or 21.02% from the previous open interest of 68,846. The trading volume for the day reached 105,414 contracts, indicating robust market engagement.In terms of price performance, Nestle India has outperformed its sector by 2.66%, with the stock gaining 2.72% over the last three days. Today, it touched an intraday high of Rs 2,515, representing a 3.35% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
However, it is worth noting a decline in investor participation, with delivery volume dropping by 23.07% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 2.47 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Nestle India.
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