Coforge Ltd Sees Significant Surge in Open Interest Amid Increased Derivatives Activity
Coforge Ltd has seen a notable rise in open interest, reaching 72,206 contracts, alongside a trading volume of 60,798 contracts, indicating increased activity in the derivatives market. The stock is trading above key moving averages, with strong liquidity and a market capitalization of approximately Rs 62,938.97 crore.
Coforge Ltd, a prominent player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 72,206 contracts, reflecting a rise of 7,487 contracts or 11.57% from the previous open interest of 64,719. This surge in open interest comes alongside a trading volume of 60,798 contracts, indicating heightened activity in the derivatives market.In terms of performance, Coforge has shown resilience, gaining 2.76% over the last two days, although it underperformed its sector by 0.49% today. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price movement. The underlying value of the stock is reported at Rs 1,883.
Additionally, the liquidity of Coforge remains robust, with a delivery volume of 703,000 shares on June 24, marking a 24.23% increase compared to the 5-day average. The market capitalization of Coforge is approximately Rs 62,938.97 crore, positioning it firmly within the large-cap segment. Overall, the notable increase in open interest highlights a dynamic trading environment for Coforge, reflecting active participation in its market performance.
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