Surge in Open Interest Signals Increased Trading Activity for UltraTech Cement
UltraTech Cement Ltd has seen a notable rise in open interest, reaching 90,504 contracts, alongside a trading volume of 79,112 contracts. Despite recent price fluctuations and a decline in the broader cement sector, the stock maintains strong liquidity and remains above several key moving averages.
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 90,504 contracts, up from the previous open interest of 73,305 contracts, marking a change of 17,199 contracts or a percentage increase of 23.46%. The trading volume for the day reached 79,112 contracts, contributing to a futures value of approximately Rs 173,516.93 lakhs.In terms of price performance, UltraTech Cement is currently 2.39% away from its 52-week high of Rs 12,930. However, the stock has faced challenges recently, with a decline of 1.91% over the past two days. The intraday low today was recorded at Rs 12,611, reflecting a decrease of 2.01%. Despite these fluctuations, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.
The cement sector overall has seen a decline of 2.03%, and UltraTech's liquidity remains robust, with a trading capacity sufficient for a trade size of Rs 9.62 crore. This surge in open interest amidst a challenging market environment highlights the dynamic nature of UltraTech Cement's trading activity.
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