Nestle India Sees Surge in Open Interest Amidst Stock Price Decline
Nestle India Ltd has seen a notable rise in open interest, reaching 70,207 contracts, alongside a trading volume of 38,235 contracts, indicating heightened market activity. Despite this increase, the stock has underperformed its sector and experienced a decline over the past two days, reflecting ongoing challenges.
Nestle India Ltd, a prominent player in the FMCG sector, has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 70,207 contracts, up from the previous OI of 59,416 contracts. This marks a change of 10,791 contracts, reflecting an 18.16% increase. The trading volume for the day stands at 38,235 contracts, indicating active participation in the market.Despite this uptick in open interest, Nestle India has underperformed its sector, showing a decline of 1.17% in its stock price today, compared to a sector return of -0.49%. The stock has been on a downward trend, having fallen for the last two consecutive days, resulting in a total decline of 2.13% over this period.
In terms of moving averages, the stock is currently above its 5-day, 20-day, and 200-day moving averages, but below the 50-day and 100-day averages. Additionally, the delivery volume has decreased significantly, falling by 55.76% against the 5-day average, suggesting a decline in investor participation.
Overall, the notable increase in open interest for Nestle India highlights a shift in market dynamics, even as the stock faces challenges in its recent performance.
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