Pidilite Industries Sees Surge in Open Interest Amid Increased Derivatives Activity

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 21,131 contracts, reflecting a rise of 2,702 contracts or 14.66% from the previous open interest of 18,429. This uptick coincides with a trading volume of 18,363 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Pidilite Industries has outperformed its sector by 2.66%, marking a consecutive gain over the last two days with a total return of 3.34% during this period. The stock reached an intraday high of Rs 3,110, representing a 2.65% increase. Notably, Pidilite is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Additionally, the stock has shown rising investor participation, with a delivery volume of 1.72 lakh shares on May 29, up by 15.62% compared to the 5-day average. With a market capitalization of Rs 1,57,365.75 crore, Pidilite Industries continues to demonstrate robust liquidity, supporting trade sizes of Rs 1.41 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and positive price performance underscores the stock's current market dynamics.