Eicher Motors Sees Surge in Open Interest Amidst Strong Trading Activity

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 46,949 contracts, marking a rise of 6,428 contracts or 15.86% from the previous open interest of 40,521. The trading volume for the day reached 58,545 contracts, indicating robust market engagement.
In terms of price performance, Eicher Motors hit a new 52-week high of Rs 6,713, showcasing a 5% gain at the opening and an intraday high of Rs 6,713, which represents a 5.36% increase. The stock has outperformed its sector by 0.89% and has shown a consistent upward trend, gaining 6.32% over the past four days. Notably, Eicher Motors is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong bullish momentum.

Despite a decline in delivery volume by 18.35% compared to the 5-day average, the stock remains liquid enough for trades sized at Rs 8.41 crore, with a market capitalization of Rs 1,79,319 crore. Overall, the notable spurt in open interest and strong price performance underscores Eicher Motors' current market position.