Ashok Leyland Sees 11.89% Surge in Open Interest Amid Increased Trading Activity

Ashok Leyland Ltd., a prominent player in the automobiles sector, has experienced a significant increase in open interest today. The latest open interest stands at 58,801 contracts, reflecting a rise of 6,247 contracts or 11.89% from the previous open interest of 52,554. This uptick coincides with a trading volume of 52,315 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Ashok Leyland is currently trading close to its 52-week high, just 2.55% away from Rs 144.5. The stock reached an intraday high of Rs 141.19, marking a 3.55% increase for the day. Notably, Ashok Leyland has outperformed its sector, achieving a 1D return of 3.38%, compared to the sector's return of 2.52% and the Sensex's return of 0.68%.

Despite this positive momentum, there has been a decline in delivery volume, which fell by 16.8% against the 5-day average, totaling 35.93 lakh shares on October 24. The stock remains liquid, with a trading capacity sufficient for a trade size of Rs 2.18 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for Ashok Leyland.