Eicher Motors Sees Surge in Open Interest Amid Increased Trading Activity
Eicher Motors Ltd has seen a notable rise in open interest, reaching 42,151 contracts, alongside increased trading volume of 32,867 contracts. The stock achieved a new 52-week high of Rs 6,388 and has shown consistent gains, reflecting strong market dynamics and robust liquidity.
Eicher Motors Ltd, a prominent player in the automobiles sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 42,151 contracts, up from the previous 38,312, marking a change of 3,839 contracts or a 10.02% increase. The trading volume for the day reached 32,867 contracts, contributing to a total futures value of approximately Rs 39,388.30 lakhs.In terms of price performance, Eicher Motors hit a new 52-week high of Rs 6,388 today, outperforming its sector by 0.38%. The stock has shown consistent gains over the past two days, with a total return of 4.42% during this period. Notably, Eicher Motors is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Additionally, the stock has seen a rise in delivery volume, with 5.62 lakh shares delivered on September 1, reflecting a 26.21% increase compared to the 5-day average. With a market capitalization of Rs 1,72,987 crore, Eicher Motors continues to demonstrate robust liquidity, suitable for trades around Rs 10.91 crore based on 2% of the 5-day average traded value. Overall, the notable spurt in open interest and positive price movements underscore the stock's current market dynamics.
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