Larsen & Toubro Sees 10.55% Surge in Open Interest, Reaching 197,814 Contracts

Larsen & Toubro Ltd. (LT), a prominent player in the construction industry, has experienced a significant increase in open interest today. The latest open interest stands at 197,814 contracts, reflecting a rise of 18,880 contracts or 10.55% from the previous open interest of 178,934. This uptick in open interest coincides with a trading volume of 71,935 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Larsen & Toubro is currently trading close to its 52-week high, just 0.95% away from Rs 3,966.2. The stock has outperformed its sector by 0.33% today, with a one-day return of 0.57%, compared to the sector's return of 0.31% and the Sensex's return of 0.68%. Notably, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

However, it is worth mentioning that there has been a decline in investor participation, with delivery volume dropping by 41.22% against the 5-day average. Despite this, the stock remains liquid enough for a trade size of Rs 11.34 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Larsen & Toubro.