Surge in Open Interest Signals Increased Trading Activity for Container Corporation of India

Jan 05 2024 03:36 PM IST
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Container Corporation of India Ltd (CONCOR) has seen a notable rise in open interest, reaching 44,794 contracts, alongside a trading volume of 48,162 contracts. Despite a decline in price performance and delivery volume, the stock maintains a market cap of Rs 43,619.38 crore, indicating robust market participation.
Container Corporation of India Ltd (CONCOR) has experienced a significant increase in open interest today, reflecting notable trading activity. The latest open interest stands at 44,794 contracts, marking an increase of 4,964 contracts or 12.46% from the previous open interest of 39,830. The trading volume for the day reached 48,162 contracts, indicating robust participation in the market.

In terms of price performance, CONCOR has underperformed its sector by 1.64%, opening the day with a loss of 2.43%. The stock reached an intraday low of Rs 708.2, representing a decline of 4.03%. Despite this downturn, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is trading below its 5-day and 200-day moving averages.

Additionally, the stock has seen a decrease in delivery volume, with 136,500 shares delivered on May 22, down 45.19% compared to the five-day average. The liquidity remains adequate for trading, with a market cap of Rs 43,619.38 crore, classifying it as a large-cap stock. Overall, the increase in open interest amidst a challenging trading environment highlights the dynamic nature of CONCOR's market activity today.
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