ITC Ltd. Sees Surge in Open Interest, Indicating Increased Market Activity

ITC Ltd., a prominent player in the Cigarettes/Tobacco industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 149,577 contracts, up from the previous figure of 133,322, marking a change of 16,255 contracts or a 12.19% increase. The trading volume for the day reached 50,987 contracts, contributing to a futures value of approximately Rs 154,853.14 lakhs.
In terms of price performance, ITC's stock is currently trading inline with its sector, with a 1-day return of -0.32%, slightly underperforming the sector's return of -0.28%. The stock's moving averages indicate it is performing higher than the 5-day, 20-day, and 50-day averages, yet remains below the 100-day and 200-day averages. Notably, the stock boasts a high dividend yield of 3.22% at the current price, and liquidity remains robust, with a trading capacity of Rs 16.41 crore based on 2% of the 5-day average traded value.

In summary, the notable rise in open interest for ITC Ltd. underscores a shift in market dynamics, while the stock's performance metrics reflect its current standing within the industry.