UltraTech Cement Sees 11.3% Surge in Open Interest to 77,243 Contracts

UltraTech Cement Ltd, a prominent player in the Cement & Cement Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 77,243 contracts, reflecting a rise of 7,840 contracts or 11.3% from the previous open interest of 69,403. This uptick coincides with a trading volume of 96,979 contracts, indicating heightened activity in the stock.
In terms of financial performance, UltraTech Cement has underperformed its sector by 0.3% today, with a 1-day return of -0.55%. This follows a trend reversal after three consecutive days of gains. The stock's current price is positioned above its 5-day, 20-day, 100-day, and 200-day moving averages, yet remains below the 50-day moving average, suggesting mixed signals in its short-term trend.

Additionally, the stock has seen a notable increase in delivery volume, with 1.15 lakh shares delivered on October 17, marking a 35.77% rise compared to the 5-day average. With a market capitalization of Rs 3,58,919 crore, UltraTech Cement continues to maintain a liquid trading environment, suitable for transactions up to Rs 3.36 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for UltraTech Cement.