ITC Ltd. Sees Significant Open Interest Surge Amid Increased Market Activity
ITC Ltd., a key player in the Cigarettes/Tobacco sector, has seen a notable rise in open interest, reaching 149,630 contracts. This increase accompanies a trading volume of 94,075 contracts, indicating heightened market activity. The stock is currently trading above several moving averages and has a market capitalization of Rs 5,40,672.55 crore.
ITC Ltd., a prominent player in the Cigarettes/Tobacco industry, has experienced a significant increase in open interest today. The latest open interest stands at 149,630 contracts, reflecting a rise of 16,308 contracts or 12.23% from the previous open interest of 133,322. This uptick in open interest coincides with a trading volume of 94,075 contracts, indicating active participation in the market.In terms of financial metrics, ITC's current price is aligned with its sector performance, showing a slight decline of 0.36% for the day, compared to a sector decline of 0.08%. The stock is trading above its 5-day, 20-day, and 50-day moving averages, although it remains below its 100-day and 200-day moving averages. Notably, the stock boasts a high dividend yield of 3.22%, which may appeal to income-focused investors.
With a market capitalization of Rs 5,40,672.55 crore, ITC maintains a liquid trading environment, with a delivery volume of 2.33 crore on April 22, reflecting a substantial increase of 93.1% against the 5-day average delivery volume. Overall, the notable rise in open interest highlights increased trading activity in ITC Ltd., underscoring the stock's current market dynamics.
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