Ramco Cements Sees Surge in Open Interest Amid Increased Trading Activity
Ramco Cements Ltd has seen a notable rise in open interest, indicating increased trading activity. The stock has outperformed its sector and reached an intraday high, while trading above multiple moving averages. However, delivery volume has decreased compared to the recent average, suggesting varied participation levels.
The Ramco Cements Ltd (symbol: RAMCOCEM) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 11,908 contracts, up from the previous 10,493, marking a change of 1,415 contracts or a 13.49% increase. The trading volume for the day reached 15,239 contracts, contributing to a total futures value of approximately Rs 21,553.34 lakhs.In terms of price performance, The Ramco Cements has outperformed its sector by 0.26%, with the stock gaining 9.31% over the last five days. Today, it reached an intraday high of Rs 953, reflecting a 3.97% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is noteworthy that delivery volume has decreased by 30.53% compared to the 5-day average, with a total of 3.12 lakh shares delivered on April 2. Despite this decline in participation, the stock remains liquid enough for trades of Rs 1.58 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest highlights a dynamic trading environment for The Ramco Cements.
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