Surge in Open Interest Signals Increased Market Activity for United Spirits Ltd
United Spirits Ltd has seen a significant rise in open interest, reaching 57,186 contracts, alongside a trading volume of 27,401 contracts, indicating increased activity in the derivatives market. Despite trading near its 52-week low and a recent downward trend, delivery volume has also increased notably.
United Spirits Ltd, a prominent player in the beverages industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 57,186 contracts, reflecting a rise of 5,438 contracts or 10.51% from the previous OI of 51,748. This uptick in OI comes alongside a trading volume of 27,401 contracts, indicating heightened activity in the derivatives market.In terms of price performance, United Spirits is currently trading close to its 52-week low, just 1.17% away from Rs 1,271.1. The stock has been on a downward trend, losing 3.81% over the past four days. It is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging short-term outlook.
Despite these challenges, there has been a rise in delivery volume, which reached 10.37 lakh on August 26, marking a 31.18% increase compared to the 5-day average. The stock's liquidity remains robust, with a trade size of Rs 2.86 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for United Spirits, reflecting ongoing developments in the stock's trading activity.
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