LTI Mindtree Sees Surge in Open Interest Amid Broader IT Sector Decline
LTI Mindtree Ltd has seen a notable rise in open interest, reaching 27,495 contracts, alongside a trading volume of 18,900 contracts. The stock closed significantly below its moving averages, reflecting a challenging market environment, while the broader IT software sector also faced declines and reduced investor participation.
LTI Mindtree Ltd, a prominent player in the IT software industry, has experienced a significant increase in open interest today. The latest open interest stands at 27,495 contracts, reflecting a rise of 2,856 contracts or 11.59% from the previous open interest of 24,639. The trading volume for the day reached 18,900 contracts, contributing to a total futures value of approximately Rs 23,108.58 lakhs.In terms of price performance, LTI Mindtree closed the day 2.45% away from its 52-week low of Rs 4,239, having opened with a loss of 2.42%. The stock touched an intraday low of Rs 4,332, marking a decline of 3.73% during the trading session. Currently, LTI Mindtree is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.
The IT software sector as a whole has also faced headwinds, with a decline of 3.34% today. Notably, investor participation has waned, with delivery volume dropping by 43.3% compared to the 5-day average. Overall, the increase in open interest for LTI Mindtree highlights notable trading activity amid a broader sector downturn.
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