Patanjali Foods Sees Surge in Open Interest Amid Mixed Market Performance

Patanjali Foods Ltd, a mid-cap player in the edible oil industry, has experienced a significant increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 54,839 contracts, up from the previous 47,490, marking a change of 7,349 contracts or a 15.47% increase. This uptick comes alongside a trading volume of 23,846 contracts, reflecting robust engagement from market participants.
In terms of price performance, Patanjali Foods has underperformed its sector by 0.38%, with a 1D return of -0.88%. The stock has been on a downward trend, losing 1.27% over the past two days. Currently, the stock's price is above its 50-day moving average but below its 5-day, 20-day, 100-day, and 200-day moving averages, indicating mixed momentum.

Additionally, the stock's delivery volume has seen a notable decline, falling by 58.51% compared to the 5-day average, suggesting a decrease in investor participation. Despite these challenges, the liquidity remains adequate for trades up to Rs 1.76 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Patanjali Foods, amidst a backdrop of fluctuating performance metrics.