Tata Communications Sees Significant Open Interest Surge Amidst Active Derivatives Market

Tata Communications Ltd, a prominent player in the telecommunication service provider sector, has experienced a significant increase in open interest today. The latest open interest stands at 34,626 contracts, marking a rise of 5,414 contracts or 18.53% from the previous open interest of 29,212. This uptick coincides with a trading volume of 30,407 contracts, reflecting robust activity in the derivatives market.
In terms of price performance, Tata Communications has outperformed its sector by 0.6%, with a one-day return of 0.56%. The stock is currently valued at Rs 1,575, with a total futures value of approximately Rs 50.35 crore and an options value of around Rs 70.75 crore. Notably, the stock is trading above its 5-day and 50-day moving averages, although it remains below the 20-day, 100-day, and 200-day moving averages.

Despite a decline in delivery volume, which has fallen by 48.9% against the 5-day average, the stock maintains sufficient liquidity for trades of Rs 0.92 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Tata Communications, reflecting changing investor sentiment and trading activity.