Mphasis Ltd. Sees Significant Surge in Open Interest Amid Increased Derivatives Activity
Mphasis Ltd. has seen a notable rise in open interest, reaching 28,352 contracts, alongside a trading volume of 21,313 contracts, indicating increased activity in the derivatives market. Despite a slight underperformance in price relative to its sector, the stock remains above key moving averages and shows a significant increase in delivery volume.
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 28,352 contracts, reflecting a rise of 5,459 contracts or 23.85% from the previous open interest of 22,893. This uptick in open interest comes alongside a trading volume of 21,313 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Mphasis has underperformed its sector by 0.73%, with a one-day return of -1.16%. Despite this, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in the short to medium term. Additionally, the stock has seen a notable increase in delivery volume, which rose by 128.43% compared to the 5-day average, reaching 356,000 shares on August 25.
With a market capitalization of Rs 55,458 crore, Mphasis continues to maintain liquidity sufficient for trades up to Rs 3.18 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Mphasis Ltd.
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