UltraTech Cement Sees 11.49% Surge in Open Interest, Reaching 87,550 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 87,550 contracts, reflecting a rise of 9,023 contracts or 11.49% from the previous open interest of 78,527. This surge in open interest comes alongside a trading volume of 48,276 contracts, indicating heightened activity in the stock.
In terms of price performance, UltraTech Cement has underperformed its sector by 0.28%, with a modest one-day return of 0.33%. The stock has shown signs of a trend reversal, gaining after four consecutive days of decline. It has traded within a narrow range of Rs 100, and while it remains above the 200-day moving average, it is currently below the 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the stock has seen a notable increase in delivery volume, which reached 3.02 lakh shares on October 24, marking a 122.89% rise compared to the five-day average. With a market capitalization of Rs 3,52,347.88 crore, UltraTech Cement continues to maintain a liquid trading environment, suitable for transactions up to Rs 6.75 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for UltraTech Cement.