Nestle India Sees 16.78% Surge in Open Interest Amid Active Market Participation
Nestle India Ltd has seen a notable rise in open interest, reaching 59,892 contracts, indicating increased trading activity. Despite this, the stock has underperformed the sector and experienced a decline over the past two days. Investor participation is also decreasing, reflecting mixed momentum in trading.
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 59,892 contracts, marking an increase of 8,604 contracts or 16.78% from the previous open interest of 51,288. The trading volume for the day reached 25,301 contracts, contributing to a total futures value of approximately Rs 92,599.57 lakhs.Despite this uptick in open interest, Nestle India has faced challenges in its stock performance, having underperformed the sector by 0.29%. Over the past two days, the stock has recorded a decline of 1.15%. Currently, it is trading above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages, indicating mixed momentum.
Additionally, investor participation appears to be waning, with a delivery volume of 714,000 shares on September 25, reflecting a decrease of 36.11% compared to the 5-day average. The stock remains liquid, suitable for trades up to Rs 4.18 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest amidst a backdrop of declining stock performance highlights the dynamic nature of trading in Nestle India Ltd.
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