Surge in Open Interest Signals Dynamic Trading Environment for UltraTech Cement
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 84,504 contracts, alongside a trading volume of 96,521 contracts. The stock achieved a new 52-week high of Rs 12,527, demonstrating strong performance despite a decline in delivery volume, indicating active trading in the derivatives market.
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 84,504 contracts, reflecting a rise of 9,347 contracts or 12.44% from the previous open interest of 75,157. This uptick coincides with a trading volume of 96,521 contracts, indicating robust activity in the derivatives market.In terms of price performance, UltraTech Cement reached a new 52-week high of Rs 12,527 today, marking a 2.6% increase during the trading session. The stock has outperformed its sector by 0.64% and has shown a consecutive gain over the last two days, yielding a total return of 3.21% in this period. Notably, UltraTech Cement is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite a decline in delivery volume, which fell by 55.1% against the 5-day average, the stock remains liquid enough for a trade size of Rs 8.77 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and the stock's recent performance highlight a dynamic trading environment for UltraTech Cement.
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