Supreme Industries Sees 17.14% Surge in Open Interest Amid Price Decline
Supreme Industries Ltd has seen a significant rise in open interest, reaching 13,357 contracts, alongside a trading volume of 4,554 contracts. Despite a recent downward trend in stock performance and decreased investor participation, the increase in open interest indicates a notable shift in market dynamics and investor sentiment.
Supreme Industries Ltd, a mid-cap player in the Plastic Products - Industrial sector, has experienced a notable increase in open interest today. The latest open interest stands at 13,357 contracts, reflecting a rise of 1,954 contracts or 17.14% from the previous open interest of 11,403. This surge comes alongside a trading volume of 4,554 contracts, indicating active participation in the market.In terms of performance, Supreme Industries has been on a downward trend, with the stock recording a -1.33% decline over the past four days. Today, the stock's return is slightly negative at -0.19%, while the sector overall has seen a marginal decline of -0.24%. The stock is currently trading above its 200-day moving average but below its shorter-term moving averages, including the 5-day, 20-day, 50-day, and 100-day averages.
Investor participation has notably decreased, with a delivery volume of 4.76 thousand shares on October 21, down by 79.95% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 0.35 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Supreme Industries, reflecting changing investor sentiment.
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