Persistent Systems Sees Significant Open Interest Surge Amid Increased Trading Activity

Persistent Systems Ltd, a prominent player in the IT software industry, has experienced a significant increase in open interest today. The latest open interest stands at 89,901 contracts, reflecting a rise of 8,188 contracts or 10.02% from the previous open interest of 81,713. This uptick in open interest comes alongside a trading volume of 62,184 contracts, indicating heightened activity in the stock.
In terms of price performance, Persistent Systems has outperformed its sector by 2.83% today, marking a consecutive gain over the last five days with a total return of 12.9%. The stock opened with a gain of 2.1% and reached an intraday high of Rs 5,353, representing a 3.67% increase. Currently, the stock is trading above its 5-day and 20-day moving averages, although it remains below the 50-day, 100-day, and 200-day moving averages.

Additionally, the stock has shown rising investor participation, with a delivery volume of 6.65 lakh shares on April 23, which is up 253.3% compared to the 5-day average delivery volume. With a market capitalization of Rs 83,403.13 crore, Persistent Systems continues to demonstrate robust liquidity, supporting trade sizes of Rs 6.85 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for Persistent Systems.