Shree Cement Ltd. Reports 20.12% Surge in Open Interest Amid Price Decline
Shree Cement Ltd., a prominent player in the Cement & Cement Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 13,513 contracts, reflecting a rise of 2,263 contracts or 20.12% from the previous open interest of 11,250. The trading volume for the day reached 11,280 contracts, contributing to a futures value of approximately Rs 22,674.02 lakhs and an options value of around Rs 6,096.35 crores, bringing the total value to Rs 23,273.38 lakhs.Despite this notable activity in open interest, Shree Cement's stock has underperformed, declining by 2.58% today, which is a larger drop compared to the sector's 0.16% decline. The stock has been on a downward trend for the past two days, with a total return of -3.55%. It touched an intraday low of Rs 28,765, indicating a 3.12% decrease from its previous close. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.
In summary, while Shree Cement has seen a marked increase in open interest, the stock's recent performance indicates ongoing challenges in the market.
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