Patanjali Foods Sees Surge in Open Interest Amid Mixed Market Performance

Patanjali Foods Ltd, a prominent player in the edible oil industry, has experienced a significant increase in open interest today. The latest open interest stands at 30,550 contracts, marking a rise of 4,982 contracts or 19.49% from the previous open interest of 25,568. The trading volume for the day reached 30,518 contracts, indicating robust activity in the derivatives market.
In terms of financial performance, Patanjali Foods has underperformed its sector, with a decline of 2.63% compared to the sector's slight gain of 0.64%. The stock touched an intraday low of Rs 1,751.7, reflecting a decrease of 3.28% during the trading session. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.

Investor participation has also seen a decline, with delivery volume falling by 1.57% against the 5-day average. Despite these challenges, the stock remains liquid enough for trades sized at Rs 2.04 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Patanjali Foods, amidst a backdrop of mixed performance indicators.