Pidilite Industries Sees Surge in Open Interest Amid Increased Trading Activity
Pidilite Industries Ltd has seen a notable rise in open interest, indicating increased trading activity, with current figures at 26,757 contracts. The stock has outperformed its sector and demonstrated consistent gains over three days, although investor participation has declined. Overall, the market dynamics for Pidilite are shifting.
Pidilite Industries Ltd, a prominent player in the FMCG sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 26,757 contracts, up from the previous 23,020 contracts, marking a change of 3,737 contracts or a 16.23% increase. The trading volume for the day reached 9,922 contracts, contributing to a total futures value of approximately Rs 44,401.56 lakhs.In terms of price performance, Pidilite Industries has outperformed its sector by 1.91%, with a 1D return of 0.47%. The stock has shown consistent gains over the past three days, accumulating a total return of 2.09% during this period. Notably, Pidilite is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, there has been a decline in investor participation, with delivery volume on April 23 falling by 12.56% compared to the 5-day average. Despite this, the stock remains liquid, suitable for trades of Rs 1.23 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.
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