Surge in Open Interest Signals Dynamic Trading Environment for UltraTech Cement
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 120,351 contracts, alongside a trading volume of 88,454 contracts. The stock is near its 52-week high and has shown consistent gains over the past three days, although delivery volume has decreased significantly.
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 120,351 contracts, reflecting a notable rise of 21.96% from the previous open interest of 98,680 contracts, marking a change of 21,671 contracts. The trading volume for the day reached 88,454 contracts, indicating robust activity in the market.In terms of price performance, UltraTech Cement is currently trading close to its 52-week high, just 3.82% away from Rs 12,339. The stock has shown consistent gains over the past three days, with a total return of 3.81% during this period. Today, it touched an intraday high of Rs 11,986, representing a 2.16% increase.
The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. However, it is worth noting that delivery volume has decreased by 45.56% compared to the 5-day average, suggesting a decline in investor participation. With a market capitalization of Rs 3,50,638.75 crore, UltraTech Cement remains a significant entity in the large-cap segment. Overall, the increase in open interest and the stock's performance metrics highlight a dynamic trading environment for UltraTech Cement.
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