UltraTech Cement Sees 10.67% Surge in Open Interest Amid Market Dynamics
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 88,652 contracts, alongside a trading volume of 48,639 contracts, indicating heightened market activity. Despite recent price declines, the company maintains a substantial market capitalization of Rs 3,63,605 crore in the Cement & Cement Products sector.
UltraTech Cement Ltd (symbol: ULTRACEMCO) has experienced a significant increase in open interest today, with the latest open interest recorded at 88,652 contracts, up from the previous 80,103 contracts. This marks a change of 8,549 contracts, reflecting a percentage increase of 10.67%. The trading volume for the day stands at 48,639 contracts, indicating active participation in the market.In terms of price performance, UltraTech Cement has underperformed its sector by 0.53%, with a one-day return of -1.22%. Over the past two days, the stock has seen a decline of 3.3%. While the stock is currently trading above its 100-day and 200-day moving averages, it remains below its 5-day, 20-day, and 50-day moving averages. Notably, the delivery volume on September 23 has risen by 16.07% compared to the five-day average, suggesting increased investor participation.
With a market capitalization of Rs 3,63,605 crore, UltraTech Cement continues to hold a significant position in the Cement & Cement Products industry. The recent surge in open interest may indicate a shift in market dynamics, warranting attention from market participants.
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