Nestle India Sees 22.77% Surge in Open Interest, Reaching 61,687 Contracts

Nestle India Ltd, a prominent player in the FMCG sector, has recently experienced a significant increase in open interest (OI), indicating heightened trading activity. The latest OI stands at 61,687 contracts, up from the previous OI of 50,245, marking a change of 11,442 contracts or a 22.77% increase. This surge in OI coincides with a trading volume of 25,607 contracts, reflecting robust market engagement.
Despite this uptick in OI, Nestle India has underperformed its sector, with a 1D return of -0.60%, compared to the sector's -0.27%. The stock has faced a consecutive decline over the past three days, resulting in a total drop of 1.92% during this period. Currently, the stock's price is positioned higher than its 200-day moving average but lower than its 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the stock's delivery volume has seen a decline of 16.49% against the 5-day average, indicating a decrease in investor participation. With a market capitalization of Rs 2,22,903.00 Cr, Nestle India remains a significant entity in the large-cap space. Overall, the notable increase in open interest highlights a shift in trading dynamics, while the stock continues to navigate a challenging performance landscape.