Mphasis Ltd. Records 19.88% Surge in Open Interest Amid Price Decline
Mphasis Ltd. has seen a significant rise in open interest, reaching 32,224 contracts, alongside a trading volume of 42,012 contracts. Despite recent price declines and underperformance relative to its sector, the stock remains above its 200-day moving averages, indicating ongoing market activity.
Mphasis Ltd., a mid-cap player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest today. The latest open interest stands at 32,224 contracts, reflecting a significant rise of 5,344 contracts or 19.88% from the previous open interest of 26,880. This uptick comes amid a trading volume of 42,012 contracts, indicating active participation in the market.In terms of price performance, Mphasis has underperformed its sector by 2.75%, with the stock experiencing a consecutive decline over the past three days, resulting in a total drop of 4.34%. The stock reached an intraday low of Rs 2,680.3, marking a decrease of 3.31% during the session. The weighted average price suggests that more volume was traded closer to this low price, highlighting the day's volatility, which was calculated at 5.84%.
Despite the recent challenges, Mphasis remains above its 200-day moving averages, although it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages. The liquidity of the stock appears adequate for trades sized at Rs 2.65 crore, with a delivery volume of 2.17 lakh contracts on November 14, reflecting a decline of 7.67% against the 5-day average. Overall, the increase in open interest amid fluctuating price dynamics underscores the current market activity surrounding Mphasis Ltd.
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