SRF Ltd. Sees 10.58% Surge in Open Interest Amid Declining Price Performance
SRF Ltd., a mid-cap specialty chemicals company, has seen a significant rise in open interest, reaching 29,350 contracts, alongside a trading volume of 20,451 contracts. Despite this increase, the stock has underperformed in its sector and experienced consecutive losses over the past three days, indicating a challenging market environment.
SRF Ltd., a mid-cap player in the specialty chemicals industry, has experienced a notable increase in open interest today. The latest open interest stands at 29,350 contracts, reflecting a rise of 2,809 contracts or 10.58% from the previous open interest of 26,541. This surge in open interest comes alongside a trading volume of 20,451 contracts, indicating active market participation.Despite this uptick in open interest, SRF's stock has underperformed relative to its sector, showing a decline of 0.29% today, while the sector itself gained 0.50%. Over the past three days, the stock has faced consecutive losses, totaling a decline of 3.72%. Additionally, SRF is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.
Investor participation has also waned, with delivery volume dropping significantly by 57.62% compared to the 5-day average. The stock's liquidity remains adequate for trades around Rs 1.12 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for SRF Ltd., amidst a challenging trading environment.
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