Surge in Open Interest Signals Increased Trading Activity for UltraTech Cement
UltraTech Cement Ltd has seen a notable rise in open interest, indicating increased trading activity in the cement sector. The stock is trading close to its 52-week high and has shown strong performance relative to its sector, with rising investor participation and a significant market capitalization.
UltraTech Cement Ltd (symbol: ULTRACEMCO) has experienced a significant increase in open interest today, reflecting heightened trading activity in the cement sector. The latest open interest stands at 112,054 contracts, up from the previous figure of 98,071, marking a change of 13,983 contracts or a 14.26% increase. The trading volume for the day reached 52,903 contracts, contributing to a futures value of approximately Rs 134,970.03 lakhs.In terms of price performance, UltraTech Cement is currently trading just 2.23% below its 52-week high of Rs 12,145.35. Despite a slight decline of 0.54% in its stock price today, the company has outperformed its sector, which saw a 0.95% drop. Notably, the stock has been on a positive trajectory, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 2.29 lakh shares on April 22, reflecting a 21.65% increase compared to the 5-day average. With a market capitalization of Rs 3,50,518.78 crore, UltraTech Cement remains a key player in the cement industry. Overall, the notable rise in open interest underscores the active trading environment surrounding the stock.
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