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 near its 52-week high, with consistent gains over the past three days. However, investor participation has declined, despite the stock's liquidity and trading metrics.
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 118,460 contracts, marking a rise of 19,780 contracts or 20.04% from the previous open interest of 98,680. The trading volume for the day reached 79,283 contracts, contributing to a total futures value of approximately Rs 175,676.92 lakhs.In terms of price performance, UltraTech Cement is currently trading close to its 52-week high, just 3.91% away from Rs 12,339. The stock has shown consistent gains over the past three days, with a total return of 3.72% during this period. Today, it touched an intraday high of Rs 11,986, reflecting a 2.16% increase.
Despite the positive price movement, there has been a notable decline in investor participation, with delivery volume dropping by 45.56% compared to the five-day average. Nevertheless, the stock remains liquid, with a trade size of Rs 9.72 crore based on 2% of the five-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a dynamic trading environment for UltraTech Cement.
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