Tata Communications Sees Significant Open Interest Surge Amid Increased Derivatives Activity

Tata Communications Ltd, a prominent player in the Telecom Services industry, has experienced a significant increase in open interest today. The latest open interest stands at 16,533 contracts, reflecting a rise of 2,613 contracts or 18.77% from the previous open interest of 13,920. This surge in open interest coincides with a trading volume of 30,065 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Tata Communications has outperformed its sector by 2.24%, with the stock gaining 8.33% over the past week. Today, it opened with a notable gain of 3.78%, reaching an intraday high of Rs 1,794, which represents a 3.95% 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 decline in delivery volume, which fell by 24.31% against the 5-day average, the stock remains liquid enough for trades of Rs 1.01 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest for Tata Communications highlights a dynamic trading environment, reflecting the stock's current market position.