Surge in Open Interest Signals Increased Trading Activity for UltraTech Cement
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 131,756 contracts, alongside a trading volume of 62,867 contracts, indicating increased activity in the derivatives market. The company's market capitalization stands at approximately Rs 3,43,743.25 crore, reinforcing its status as a large-cap entity.
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 131,756 contracts, reflecting a rise of 15,289 contracts or 13.13% from the previous open interest of 116,467. This uptick in open interest comes alongside a trading volume of 62,867 contracts, indicating heightened activity in the derivatives market.In terms of price performance, UltraTech Cement has underperformed its sector by 0.45%, with a 1-day return of -0.69%. The stock has seen a trend reversal, falling after two consecutive days of gains. Currently, the stock is trading above its 50-day, 100-day, and 200-day moving averages, yet remains below its 5-day and 20-day moving averages.
The liquidity of UltraTech Cement is notable, with a delivery volume of 102,000 on May 23, which is a 3.23% increase compared to the 5-day average delivery volume. The market capitalization of the company is approximately Rs 3,43,743.25 crore, solidifying its position as a large-cap entity in the market. Overall, the increase in open interest highlights a notable shift in trading dynamics for UltraTech Cement.
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