Mphasis Ltd. Sees Significant Open Interest Surge Amid Price Decline Challenges
Mphasis Ltd. has seen a notable rise in open interest, reaching 23,811 contracts, alongside a trading volume of 17,142 contracts. Despite this increase, the stock has underperformed its sector, experiencing a decline in price and a significant drop over the past two days. The company's market capitalization stands at Rs 47,226.83 crore.
Mphasis Ltd., a prominent player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 23,811 contracts, reflecting a rise of 3,666 contracts or 18.2% from the previous open interest of 20,145. This uptick in open interest comes alongside a trading volume of 17,142 contracts, indicating active participation in the market.Despite this surge in open interest, Mphasis has underperformed its sector, with a decline of 3.47% today. The stock opened lower, down 3.8%, and reached an intraday low of Rs 2,386.7, marking a decrease of 6.73% at its lowest point. Over the past two days, Mphasis has seen a cumulative drop of 5.01%.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 3.27 lakh shares on May 30, which is up 42.93% compared to the five-day average. The market capitalization of Mphasis is currently Rs 47,226.83 crore, categorizing it as a large-cap stock.
In summary, while Mphasis Ltd. has shown a notable increase in open interest, it continues to face challenges in price performance relative to its sector.
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