UltraTech Cement Sees 21.76% Surge in Open Interest Amid Increased Trading Activity

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 89,575 contracts, reflecting a notable rise of 16,011 contracts or 21.76% from the previous open interest of 73,564. This surge in open interest comes alongside a trading volume of 77,885 contracts, indicating heightened activity in the stock.
Despite this uptick in open interest, UltraTech Cement's stock has underperformed its sector, showing a decline of 2.14% today, compared to a sector decline of 1.34%. The stock has faced consecutive losses over the past four days, accumulating a total drop of 3.76% during this period. The stock reached an intraday low of Rs 11,886, which is a decrease of 2.13% from the previous close.

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 moving averages. Notably, delivery volume has surged by 150.09% against the 5-day average, suggesting increased trading activity. With a market capitalization of Rs 3,50,226.19 crore, UltraTech Cement remains a significant entity in the large-cap segment. Overall, the increase in open interest highlights a shift in market dynamics for UltraTech Cement, warranting attention from market participants.