Surge in Open Interest Signals Increased Market Engagement for Birlasoft Ltd
Birlasoft Ltd has seen a significant rise in open interest, reaching 31,089 contracts, alongside a trading volume of 62,136 contracts, indicating heightened market activity. Despite underperforming its sector, the stock remains actively traded, with robust liquidity and notable delivery volume increases.
Birlasoft Ltd (BSOFT), a mid-cap player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest today. The latest open interest stands at 31,089 contracts, reflecting a rise of 3,541 contracts or 12.85% from the previous open interest of 27,548. This surge in open interest coincides with a trading volume of 62,136 contracts, indicating active participation in the stock.In terms of price performance, Birlasoft underperformed its sector by 1.8%, with the stock reaching an intraday high of Rs 439.9, marking a gain of 3.92%, while it dipped to a low of Rs 412, down 2.67%. The weighted average price suggests that more volume was traded closer to the lower end of the price range. Additionally, the stock is currently trading above its 20-day and 50-day moving averages but below its 5-day, 100-day, and 200-day moving averages.
The liquidity of Birlasoft remains robust, with a delivery volume of 5.52 lakh shares on May 28, which is a significant increase of 47.98% compared to the 5-day average delivery volume. Overall, the increase in open interest and trading activity highlights a dynamic trading environment for Birlasoft, reflecting the stock's current market engagement.
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