Eicher Motors Sees Surge in Open Interest Amid Increased Trading Activity
Eicher Motors Ltd has seen a notable rise in open interest, indicating increased trading activity, with current figures at 57,274 contracts. The stock reached a new 52-week high of Rs 6,848, reflecting strong upward momentum, although delivery volume has declined significantly. Overall, the company shows robust performance in the automobile sector.
Eicher Motors Ltd, a prominent player in the automobile industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 57,274 contracts, up from the previous 48,931, marking a change of 8,343 contracts or a 17.05% increase. The trading volume for the day reached 102,485 contracts, indicating robust market engagement.In terms of price performance, Eicher Motors hit a new 52-week high of Rs 6,848, representing a 4.07% increase during the trading session. The stock has shown consistent upward momentum, gaining 12.01% over the past six days and outperforming its sector by 0.33%. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend.
Despite the positive price movements, there has been a notable decline in delivery volume, which fell by 28.38% compared to the 5-day average. The stock's liquidity remains healthy, with a trade size of Rs 10.15 crore based on 2% of the 5-day average traded value. Overall, Eicher Motors continues to demonstrate strong performance metrics within the large-cap automobile sector.
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