Mphasis Ltd. Sees Surge in Open Interest Amidst Price Decline and Market Challenges
Mphasis Ltd. has seen a significant rise in open interest, reaching 24,362 contracts, alongside a trading volume of 24,030 contracts. Despite this activity, the stock has underperformed, experiencing a decline over the past two days and trading below several key moving averages, though delivery volume has increased.
Mphasis Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 24,362 contracts, up from the previous 20,145 contracts, marking a change of 4,217 contracts or a 20.93% increase. The trading volume for the day reached 24,030 contracts, indicating robust participation in the market.Despite this surge in open interest, Mphasis has underperformed its sector, with a decline of 2.69% today. The stock has been on a downward trend, losing 3.85% over the last two days, and opened with a loss of 3.8% today. It touched an intraday low of Rs 2,386.7, reflecting a decrease of 6.73% at its lowest point.
The weighted average price suggests that more volume was traded closer to the low price, and while the stock remains above its 50-day moving averages, it is below the 5-day, 20-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has seen a rise of 42.93% against the 5-day average, indicating increased investor participation.
In summary, while Mphasis Ltd. shows a notable increase in open interest, it continues to face challenges in its price performance amidst broader market conditions.
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