Eicher Motors Sees Significant Open Interest Surge Amidst Strong Trading Activity
Eicher Motors Ltd has seen a notable rise in open interest, reaching 47,047 contracts, alongside a trading volume of 71,052 contracts, indicating strong activity in the derivatives market. The stock has outperformed its sector and demonstrated solid liquidity, reflecting robust engagement from investors.
Eicher Motors Ltd, a prominent player in the Automobile Two & Three Wheelers sector, has experienced a significant increase in open interest today. The latest open interest stands at 47,047 contracts, reflecting a rise of 5,126 contracts or 12.23% from the previous open interest of 41,921. This uptick coincides with a trading volume of 71,052 contracts, indicating robust activity in the derivatives market.In terms of price performance, Eicher Motors has outperformed its sector by 0.5%, reaching an intraday high of Rs 5,258.95, which marks a 3.1% increase for the day. 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 in its price trajectory.
Additionally, the automobile sector has gained 2.3% today, contributing to a favorable market environment. Notably, the delivery volume for Eicher Motors surged to 263,000 shares on March 19, reflecting a 76.45% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 1,43,575.29 crore, Eicher Motors continues to demonstrate solid liquidity, supporting trade sizes of Rs 3.14 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and strong trading metrics highlight the active engagement in Eicher Motors' stock today.
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