Nestle India Sees Surge in Open Interest Amid Increased Trading Activity
Nestle India Ltd has seen a notable rise in open interest, reaching 71,369 contracts, alongside a trading volume of 56,097 contracts, indicating increased market activity. The stock has outperformed its sector and is currently above several moving averages, despite a decline in delivery volume.
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 71,369 contracts, marking a notable rise of 12,908 contracts or 22.08% from the previous open interest of 58,461. The trading volume for the day reached 56,097 contracts, indicating robust market engagement.In terms of price performance, Nestle India has outperformed its sector by 0.65%, recovering from three consecutive days of decline. The stock reached an intraday high of Rs 1,179, representing a gain of 2.25% for the day. Notably, the stock's current price is above its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains below the 100-day moving average.
Despite this positive price movement, there has been a decline in investor participation, with delivery volume dropping by 41.56% compared to the 5-day average. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 3.03 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance today highlight a dynamic trading environment for Nestle India.
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