Varun Beverages Sees Surge in Open Interest Amidst Declining Stock Performance
Varun Beverages Ltd has seen a significant rise in open interest, reaching 73,746 contracts, alongside a trading volume of 50,592 contracts. Despite this activity, the stock has underperformed its sector and experienced a decline over the past three days, with notable drops in delivery volume and price performance.
Varun Beverages Ltd (VBL), a prominent player in the Breweries & Distilleries sector, has experienced a notable increase in open interest today. The latest open interest stands at 73,746 contracts, reflecting a rise of 7,120 contracts or 10.69% from the previous open interest of 66,626. The trading volume for the day reached 50,592 contracts, indicating active market participation.In terms of price performance, Varun Beverages has underperformed its sector by 1.29%, with the stock experiencing a decline of 6.56% over the last three days. Today, the stock touched an intraday low of Rs 511.65, marking a decrease of 3.66%. The weighted average price suggests that more volume was traded closer to this low price point.
Despite being above the 20-day moving averages, the stock remains below the 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has seen a significant drop of 44.81% compared to the 5-day average, indicating a decrease in investor participation. With a market capitalization of Rs 1,80,231.00 crore, Varun Beverages continues to maintain a liquid trading environment, suitable for transactions around Rs 11.59 crore. Overall, the increase in open interest highlights a shift in market dynamics for Varun Beverages, amidst a backdrop of declining stock performance.
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