Supreme Industries Sees 31.82% Surge in Open Interest to 22,335 Contracts
Supreme Industries Ltd has seen a significant rise in open interest, reaching 22,335 contracts, an increase of 5,392 contracts. This surge accompanies a trading volume of 49,811 contracts. Despite outperforming its sector slightly, the stock trades below key moving averages, indicating a bearish trend. Its market capitalization stands at approximately Rs 48,472.18 crore.
Supreme Industries Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 22,335 contracts, marking a notable rise of 5,392 contracts or 31.82% from the previous open interest of 16,943. This surge in open interest coincides with a trading volume of 49,811 contracts, indicating heightened activity in the derivatives market.In terms of performance, Supreme Industries has outperformed its sector by 0.28%, with a 1-day return of 0.17%. However, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term. Additionally, the delivery volume has seen a decline of 43.97% compared to the 5-day average, with a total delivery volume of 3.3 lakh shares recorded on October 30.
The market capitalization of Supreme Industries is approximately Rs 48,472.18 crore, categorizing it as a mid-cap stock. Overall, the notable increase in open interest reflects a shift in market dynamics, warranting attention from market participants.
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