Siemens Ltd. Sees 23.59% Surge in Open Interest to 35,874 Contracts
Siemens Ltd. has seen a notable rise in open interest, reaching 35,874 contracts, alongside a trading volume of 30,624 contracts. Despite this increase, the stock has underperformed its sector, experiencing a decline over the past five days and trading below key moving averages, indicating a bearish trend.
Siemens Ltd., a prominent player in the Heavy Electrical Equipment industry, has experienced a significant increase in open interest today. The latest open interest stands at 35,874 contracts, reflecting a notable rise of 6,848 contracts or 23.59% from the previous open interest of 29,026. This surge comes amid a trading volume of 30,624 contracts, indicating heightened activity in the derivatives market.Despite this uptick in open interest, Siemens has underperformed its sector, with a decline of 1.99% today. The stock has faced consecutive losses over the past five days, accumulating a total drop of 5.92%. During today's trading session, Siemens reached an intraday low of Rs 3,055, down 2.94% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.
Siemens is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. However, there has been a rise in delivery volume, which increased by 6.51% against the 5-day average, suggesting a degree of liquidity in the stock, with a market cap of Rs 1,09,849.00 Cr. Overall, the increase in open interest highlights a shift in market dynamics for Siemens, amidst a challenging trading environment.
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