Tata Communications Sees Significant Open Interest Surge Amidst Increased Trading 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 24,179 contracts, reflecting a notable rise of 5,580 contracts or 30% from the previous open interest of 18,599. This surge coincides with a trading volume of 57,528 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Tata Communications has outperformed its sector by 4.87%, with the stock gaining 4.34% over the last two days. Today, it reached an intraday high of Rs 1,813.1, marking a 4.71% 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 this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 69.6% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 1.41 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 heightened trading activity.