Mphasis Ltd. Sees Surge in Open Interest Amid Strong Price Performance
Mphasis Ltd. has seen a significant rise in open interest, reaching 25,872 contracts, alongside a trading volume of 52,839 contracts. The stock has outperformed its sector and is trading above key moving averages, although delivery volume has declined notably compared to recent 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 25,872 contracts, reflecting a rise of 5,488 contracts or 26.92% from the previous open interest of 20,384. This surge coincides with a trading volume of 52,839 contracts, indicating heightened activity in the stock.In terms of price performance, Mphasis has outperformed its sector by 0.9%, reaching an intraday high of Rs 2,967.6, which marks a 4.18% increase for the day. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
Despite the positive price movement, there has been a notable decline in delivery volume, which fell by 37.36% compared to the 5-day average, with a delivery volume of 1.14 lakh shares recorded on August 22. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 1.94 crore based on 2% of the 5-day average traded value.
In summary, Mphasis Ltd. is witnessing a notable spurt in open interest alongside strong price performance, while also facing a decline in delivery participation.
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