Uno Minda Ltd Sees Surge in Open Interest Amid Market Dynamics Shift
Uno Minda Ltd has seen a notable rise in open interest, reaching 9,996 contracts, alongside a significant increase in trading volume. Despite this activity, the stock has underperformed its sector, indicating a potential trend reversal. Delivery volume also surged, reflecting robust market dynamics.
Uno Minda Ltd, a prominent player in the Auto Components & Equipments industry, has experienced a significant increase in open interest today. The latest open interest stands at 9,996 contracts, reflecting a rise of 1,250 contracts or 14.29% from the previous open interest of 8,746. The trading volume for the day reached 8,289 contracts, contributing to a total futures value of approximately Rs 15,834.91 lakhs.Despite this notable activity in open interest, the stock has underperformed its sector by 1.64%, with a 1D return of -0.74%. This decline comes after a three-day streak of gains, indicating a potential trend reversal. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend.
Additionally, the delivery volume has seen a substantial increase, rising by 180.49% compared to the 5-day average, with a delivery volume of 726,000 shares on June 27. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 1.44 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Uno Minda Ltd.
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