Pidilite Industries Sees 11.92% Surge in Open Interest to 30,135 Contracts

Pidilite Industries Ltd, a prominent player in the specialty chemicals sector, has experienced a significant increase in open interest today. The latest open interest stands at 30,135 contracts, reflecting a rise of 3,210 contracts or 11.92% from the previous open interest of 26,925. This uptick comes alongside a trading volume of 9,490 contracts, indicating active participation in the market.
In terms of overall market performance, Pidilite Industries has underperformed its sector by 0.4%, with a 1-day return of -0.89%. The stock has faced a consecutive decline over the past three days, accumulating a total drop of 3.75% during this period. Currently, Pidilite is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.

Despite these challenges, there has been a notable increase in delivery volume, which reached 473,000 on September 26, marking a 51.39% rise compared to the 5-day average. The stock's liquidity remains robust, accommodating trade sizes of up to Rs 2.11 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Pidilite Industries.