Mphasis Ltd. Sees 12.17% Surge in Open Interest Amid Increased Trading Activity
Mphasis Ltd. has seen a notable rise in open interest, reaching 24,119 contracts, alongside a trading volume of 11,740 contracts, indicating increased activity in the derivatives market. Despite a decline in stock price, Mphasis maintains strong liquidity and is trading above several key moving averages.
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 24,119 contracts, reflecting a rise of 2,617 contracts or 12.17% from the previous open interest of 21,502. This uptick in open interest comes alongside a trading volume of 11,740 contracts, indicating active participation in the derivatives market.In terms of price performance, Mphasis has underperformed its sector by 0.98%, with the stock falling 2.04% on the day. It reached an intraday low of Rs 2,820, marking a decline of 2.38%. Despite this drop, Mphasis is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term upward trend in price.
The stock's liquidity remains robust, with a delivery volume of 1.3 lakh shares on October 27, which is 2.13% higher than the 5-day average delivery volume. Overall, the notable increase in open interest highlights a shift in market dynamics for Mphasis Ltd., reflecting heightened trading activity amid current price movements.
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