MRF Ltd. Sees Surge in Open Interest, Indicating Increased Trading Activity
MRF Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures reaching 22,719 contracts. The stock has outperformed its sector and demonstrated consistent gains over the past week. Additionally, delivery volume has increased, reflecting heightened investor participation in a liquid trading environment.
MRF Ltd., a prominent player in the Tyres & Allied industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 22,719 contracts, up from the previous 20,589, marking a change of 2,130 contracts or a 10.35% increase. The trading volume for the day reached 15,967 contracts, contributing to a futures value of approximately Rs 50,569.70 lakhs.In terms of performance, MRF has outperformed its sector by 1.06% today, with a 1D return of 0.44%. The stock has shown consistent gains over the past week, accumulating a total return of 9.07%. MRF's current price is above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Additionally, the stock's delivery volume of 2.49k on March 24 has increased by 2.44% compared to the 5-day average, indicating rising investor participation. With a market capitalization of Rs 48,569.97 crore, MRF continues to maintain a liquid trading environment, suitable for transactions of Rs 1.45 crore. Overall, the notable rise in open interest underscores the active trading landscape surrounding MRF Ltd.
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