Eicher Motors Sees Significant Open Interest Surge Amidst Active Derivatives Trading

Eicher Motors Ltd, a prominent player in the automobiles sector, has experienced a significant increase in open interest today. The latest open interest stands at 41,737 contracts, reflecting a rise of 4,371 contracts or 11.7% from the previous open interest of 37,366. This uptick coincides with a trading volume of 95,859 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Eicher Motors has outperformed its sector by 0.91%, with the stock gaining 2.68% over the last two days. Today, it reached an intraday high of Rs 5,506.5, marking a 2.1% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Additionally, the delivery volume on June 18 was recorded at 412,000 shares, which is a notable 42.12% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 1,50,482.20 crore, Eicher Motors continues to demonstrate liquidity suitable for trades around Rs 5.65 crore based on 2% of the 5-day average traded value. Overall, the surge in open interest and positive price movements highlight a dynamic trading environment for Eicher Motors.