UltraTech Cement Sees 17.67% Surge in Open Interest Amid Increased Trading Activity
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 86,563 contracts, alongside a trading volume of 65,712 contracts. Despite this activity, the stock has underperformed its sector, declining for four consecutive days. The company maintains a significant market capitalization in the Cement industry.
UltraTech Cement Ltd (symbol: ULTRACEMCO) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 86,563 contracts, up from the previous 73,564, marking a change of 12,999 contracts or a 17.67% increase. The trading volume for the day reached 65,712 contracts, indicating robust participation in the market.Despite this surge in open interest, UltraTech Cement's stock has underperformed its sector, showing a decline of 1.99% today, compared to a sector decline of 1.31%. The stock has been on a downward trend, falling for four consecutive days and recording a total decline of 3.75% during this period. The intraday low was noted at Rs 11,902, reflecting a 2% drop.
In terms of moving averages, the stock is currently above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day averages. Additionally, delivery volume has seen a substantial rise of 150.09% against the 5-day average, suggesting increased trading activity. With a market capitalization of Rs 3,50,756.62 crore, UltraTech Cement remains a significant player in the Cement & Cement Products industry. Overall, the increase in open interest highlights a shift in market dynamics, warranting attention from market participants.
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