Bharat Forge Sees Surge in Open Interest Amid Increased Trading Activity
Bharat Forge Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 44,465 contracts. The stock has outperformed its sector and reached an intraday high, while investor participation and delivery volume have also increased significantly, reflecting a dynamic trading environment.
Bharat Forge Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 44,465 contracts, up from the previous figure of 38,279, marking a change of 6,186 contracts or a 16.16% increase. The trading volume for the day reached 121,102 contracts, indicating robust market engagement.In terms of price performance, Bharat Forge has outperformed its sector by 2.78%, with the stock touching an intraday high of Rs 1,176.9, representing a 5.7% increase. The weighted average price suggests that more volume was traded closer to the low price for the day. Notably, the stock is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Investor participation has also risen, with delivery volume on May 8 reaching 7.8 lakh shares, a 33.38% increase compared to the 5-day average. The liquidity of the stock remains favorable, with a trade size of Rs 0.42 crore based on 2% of the 5-day average traded value. Overall, the notable spurt in open interest and strong trading metrics highlight a dynamic trading environment for Bharat Forge.
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