Pidilite Industries Sees Surge in Open Interest Amid Increased Derivatives Activity
Pidilite Industries Ltd has seen a notable rise in open interest, reaching 20,994 contracts, alongside a trading volume of 10,696 contracts, indicating increased activity in the derivatives market. The stock has consistently outperformed its sector and shows strong upward momentum, supported by significant delivery volume and liquidity.
Pidilite Industries Ltd, a prominent player in the specialty chemicals sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 20,994 contracts, reflecting a rise of 2,122 contracts or 11.24% from the previous OI of 18,872. This uptick in OI comes alongside a trading volume of 10,696 contracts, indicating heightened activity in the derivatives market.In terms of performance, Pidilite Industries has outperformed its sector by 1.41%, with a 1D return of 0.56%. The stock has shown consistent gains over the past three days, accumulating a total return of 5.6% during this period. Notably, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume on August 5 reached 331,000 shares, marking a remarkable increase of 154.01% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,51,767 crore, Pidilite Industries remains a liquid stock, suitable for trades of up to Rs 2.21 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and robust trading metrics highlight the stock's current market dynamics.
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