Surge in Open Interest Signals Increased Market Activity for Solar Industries India Ltd
Solar Industries India Ltd has seen a notable rise in open interest, reaching 20,846 contracts, alongside a trading volume of 72,245 contracts, indicating increased market activity. The stock also achieved a new all-time high of Rs 14,799, reflecting strong performance and significant delivery volume growth.
Solar Industries India Ltd, a prominent player in the Other Chemical products sector, has experienced a significant increase in open interest today. The latest open interest stands at 20,846 contracts, marking a rise of 2,368 contracts or 12.82% from the previous open interest of 18,478. This uptick in open interest coincides with a trading volume of 72,245 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Solar Industries reached a new 52-week and all-time high of Rs 14,799 today, reflecting a 4.28% increase during the trading session. The stock has outperformed its sector by 2.31% and has shown a consecutive gain over the last two days, yielding a total return of 9.06% in this period. Notably, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume on May 21 surged to 318,000 shares, a remarkable increase of 266.77% compared to the 5-day average. With a market capitalization of Rs 1,34,269.14 crore, Solar Industries remains a liquid stock, suitable for trades of approximately Rs 1.13 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and robust trading metrics highlight the stock's active market engagement today.
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