Deepak Nitrite Sees Surge in Open Interest Amidst Increased Trading Activity
Deepak Nitrite Ltd. has seen a significant rise in open interest, reaching 7,885 contracts, alongside a trading volume of 5,293 contracts. Despite a recent decline in price performance and reduced investor participation, the stock maintains adequate liquidity, indicating notable market activity and shifting dynamics.
Deepak Nitrite Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 7,885 contracts, up from the previous 7,060, marking a change of 825 contracts or an increase of 11.69%. The trading volume for the day reached 5,293 contracts, contributing to a futures value of approximately Rs 6,845.74 lakhs and an options value of around Rs 2,589.73 crores, bringing the total value to Rs 7,335.36 lakhs.In terms of price performance, Deepak Nitrite has underperformed its sector by 0.76%, continuing a downward trend with a decline of 5.11% over the past four days. The stock reached an intraday high of Rs 2,048, reflecting a 2.86% increase at one point during the trading session. While the stock is trading above its 20-day moving averages, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages.
Investor participation has seen a decline, with delivery volume dropping by 23.97% compared to the five-day average. Despite these challenges, the stock maintains sufficient liquidity for trades around Rs 1.06 crore, indicating a stable trading environment. Overall, the increase in open interest highlights a significant shift in market dynamics for Deepak Nitrite Ltd.
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