Surge in Open Interest Signals Increased Trading Activity for Godrej Consumer Products
Godrej Consumer Products Ltd has seen a notable rise in open interest, indicating increased trading activity, with current figures at 49,963 contracts. The stock's trading volume reached 17,306 contracts, while delivery volume also rose significantly. Despite this, the stock has underperformed its sector and experienced a trend reversal.
Godrej Consumer Products Ltd (GODREJCP) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 49,963 contracts, up from the previous 43,795, marking a change of 6,168 contracts or a 14.08% increase. The trading volume for the day reached 17,306 contracts, contributing to a futures value of approximately Rs 62,726.49 lakhs.In terms of price performance, Godrej Consumer Products has underperformed its sector by 0.53%, with a 1D return of -0.52%. The stock has seen a trend reversal, declining after two consecutive days of gains. Currently, it is trading above its 5-day, 20-day, and 50-day moving averages, yet remains below its 100-day and 200-day moving averages.
Investor participation has shown a notable rise, with delivery volume reaching 12.87 lakh shares on March 21, an increase of 39.28% compared to the 5-day average. The stock's liquidity remains robust, accommodating trade sizes of Rs 3.64 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a dynamic trading environment for Godrej Consumer Products amidst mixed performance indicators.
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