Tata Communications Sees Surge in Open Interest Amid Increased Trading Activity
Tata Communications Ltd has seen a significant rise in open interest, reaching 17,481 contracts, alongside a trading volume of 15,916 contracts. The stock has outperformed its sector, gaining 7.15% over the past week, and is currently trading above multiple moving averages, indicating strong market engagement.
Tata Communications Ltd, a prominent player in the Telecom Services industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 17,481 contracts, marking a notable rise of 3,561 contracts or 25.58% from the previous open interest of 13,920. This surge coincides with a trading volume of 15,916 contracts, indicating robust market engagement.In terms of price performance, Tata Communications has outperformed its sector by 1.38%, with the stock gaining 7.15% over the past week. Today, it opened with a 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 increase in open interest for Tata Communications highlights a notable shift in market dynamics, reflecting the stock's current performance and trading activity.
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