Mphasis Ltd. Records 18.45% Surge in Open Interest Amid Trading Challenges
Mphasis Ltd. has seen a notable rise in open interest, reaching 31,839 contracts, alongside a trading volume of 39,392 contracts, indicating increased activity in the derivatives market. Despite this, the stock has underperformed its sector and experienced a decline over recent days, reflecting a challenging trading environment.
Mphasis Ltd., a mid-cap player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 31,839 contracts, reflecting a rise of 4,959 contracts or 18.45% from the previous open interest of 26,880. This surge coincides with a trading volume of 39,392 contracts, indicating heightened activity in the derivatives market.Despite this uptick in open interest, Mphasis has underperformed its sector, with a decline of 2.66% today. The stock has been on a downward trend, losing 4.36% over the past three days. It reached an intraday low of Rs 2,680.3, marking a decrease of 3.31% from the previous close. The stock's volatility has been notable, with an intraday fluctuation of 5.76%.
In terms of liquidity, Mphasis remains accessible for trading, with a delivery volume of 2.17 lakh shares on November 14, although this represents a 7.67% decline compared to the five-day average. The stock is currently trading above its 200-day moving average but below its shorter-term moving averages. Overall, the increase in open interest highlights a shift in market dynamics for Mphasis, amidst a challenging trading environment.
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