Mphasis Ltd. Sees 11.96% Surge in Open Interest Amidst Price Decline
Mphasis Ltd. has seen a significant rise in open interest, reaching 24,073 contracts, alongside increased trading volume of 13,765. Despite recent price underperformance, the stock remains above key moving averages, indicating a potential longer-term positive trend. Increased liquidity is also noted in its delivery volume.
Mphasis Ltd., a mid-cap player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 24,073 contracts, reflecting a rise of 2,571 contracts or 11.96% from the previous OI of 21,502. This uptick in OI comes alongside a trading volume of 13,765, indicating heightened activity in the derivatives market.In terms of price performance, Mphasis has underperformed its sector by 0.51%, with a 1D return of -0.52%. The stock has been on a downward trend, recording a decline of 2.38% over the last two days. Despite this, Mphasis is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term positive trend in its price action.
Additionally, the stock has shown increased liquidity, with a delivery volume of 154,000 on October 28, marking a 41.37% rise compared to the 5-day average. The total futures value is reported at Rs 56,012.22 lakhs, while the options value stands at Rs 5,334.11 lakhs, contributing to a total of Rs 56,766.03 lakhs. Overall, the increase in open interest highlights a significant shift in market dynamics for Mphasis Ltd.
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