Patanjali Foods Sees Surge in Open Interest Amidst Market Challenges
Patanjali Foods Ltd has reported a significant rise in open interest, reaching 31,400, alongside a trading volume of 7,089. Despite this increase, the stock has underperformed its sector and experienced consecutive declines, with a notable drop in delivery volume, indicating reduced investor participation.
Patanjali Foods Ltd, a prominent player in the edible oil industry, has experienced a notable increase in open interest today. The latest open interest stands at 31,400, reflecting a rise of 3,059 from the previous open interest of 28,341, marking a percentage change of 10.79%. The trading volume for the day reached 7,089, contributing to a futures value of approximately Rs 11,044.42 lakhs and an options value of Rs 2,569.06 crore, bringing the total value to Rs 11,334.70 lakhs.Despite this surge in open interest, Patanjali Foods has underperformed its sector by 0.73% today, continuing a trend of consecutive declines over the past two days, with a total return of -1.05% during this period. The stock has traded within a narrow range of Rs 16.2 and is currently positioned higher than its 5-day moving averages but lower than the 20, 50, 100, and 200-day moving averages. Additionally, delivery volume has decreased by 23.23% compared to the 5-day average, indicating a decline in investor participation.
In summary, while Patanjali Foods Ltd has seen a significant uptick in open interest, the stock's recent performance reflects challenges in market sentiment and investor engagement.
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