Surge in Open Interest Signals Increased Activity for Persistent Systems Ltd.
Persistent Systems Ltd has seen a notable rise in open interest, reaching 42,815 contracts, alongside a trading volume of 113,736 contracts, indicating increased derivatives market activity. The stock has outperformed its sector and is trading above multiple moving averages, reflecting a strong upward trend despite a slight decline in delivery volume.
Persistent Systems Ltd, a prominent player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 42,815 contracts, reflecting a rise of 6,903 contracts or 19.22% from the previous open interest of 35,912. This surge in open interest coincides with a trading volume of 113,736 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Persistent Systems has outperformed its sector by 1.03%, with the stock gaining 8.19% over the last five days. Today, it reached an intraday high of Rs 6,050, marking a 4.48% 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.
Despite a slight decline in delivery volume, which fell by 0.21% against the 5-day average, the stock remains liquid enough for trades sized at Rs 3.6 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and solid price performance underscores the current activity surrounding Persistent Systems Ltd.
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