Surge in Open Interest Signals Increased Trading Activity for Solar Industries India Ltd
Solar Industries India Ltd has seen a notable rise in open interest, reaching 27,334 contracts, alongside a trading volume of 84,738 contracts. The stock achieved a new all-time high of Rs. 15,291 and has demonstrated strong market activity, with increased delivery volume and a solid market capitalization.
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 27,334 contracts, reflecting a rise of 4,710 contracts or 20.82% from the previous open interest of 22,624. This surge in open interest is accompanied by a trading volume of 84,738 contracts, indicating robust activity in the market.In terms of price performance, Solar Industries reached a new 52-week and all-time high of Rs. 15,291 today. The stock has outperformed its sector by 0.84% and has shown a consistent upward trend, gaining 12.91% over the last three days. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, highlighting its strong market position.
Additionally, the stock's delivery volume on May 22 was 1.79 lakh, which is a 33.56% increase compared to the 5-day average delivery volume, suggesting rising investor participation. With a market capitalization of Rs 1,39,083.21 crore, Solar Industries remains a liquid stock, suitable for trades of Rs 4.16 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and strong price performance underscores the stock's active trading environment.
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