Ramco Cements Sees Significant Open Interest Surge Amid Active Market Participation
The Ramco Cements Ltd has seen a significant rise in open interest, reaching 12,870 contracts, alongside a trading volume of 28,985 contracts. The stock has outperformed its sector and is trading above multiple moving averages, despite a decline in delivery volume compared to recent averages.
The Ramco Cements Ltd, a prominent player in the Cement & Cement Products industry, has experienced a notable increase in open interest today. The latest open interest stands at 12,870 contracts, reflecting a rise of 1,230 contracts or 10.57% from the previous open interest of 11,640. This surge in open interest comes alongside a trading volume of 28,985 contracts, indicating active market participation.In terms of price performance, The Ramco Cements has outperformed its sector by 1.01%, marking a consecutive gain over the last two days with a total return of 2.78%. Despite opening the day with a loss of 2%, the stock reached an intraday high of Rs 1,010, representing a 2.25% increase, while the intraday low was recorded at Rs 958.55, down 2.96%.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position in the market. However, there has been a decline in delivery volume, which fell by 36.36% compared to the 5-day average. Overall, The Ramco Cements continues to demonstrate resilience in a fluctuating market environment.
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