Persistent Systems Sees 17.16% Surge in Open Interest Amid Increased Trading Activity

Persistent Systems 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 72,664 contracts, marking a rise of 10,645 contracts or 17.16% from the previous open interest of 62,019. This uptick in open interest coincides with a robust trading volume of 176,511 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Persistent Systems has outperformed its sector by 5.69%, with the stock gaining 6.24% over the last two days. Today, it opened with a gain of 3.45% and reached an intraday high of Rs 5,700, reflecting a 6.78% increase. 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.

Additionally, the delivery volume on October 14 has surged by 58.79% compared to the 5-day average, further highlighting increased investor participation. With a market capitalization of Rs 89,085.44 crore, Persistent Systems continues to demonstrate solid liquidity, making it a notable entity in the market. Overall, the increase in open interest and positive price movements underscore the stock's current momentum.