Tata Communications Sees Surge in Open Interest Amid Increased Trading Activity

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 18,725 contracts, marking a notable rise of 4,805 contracts or 34.52% from the previous open interest of 13,920. The trading volume for the day reached 73,374 contracts, indicating robust market engagement.
In terms of price performance, Tata Communications has outperformed its sector by 4.1%, with the stock gaining 10.18% over the past seven days. Today, it opened with a gain of 3.78%, reaching an intraday high of Rs 1,818, which represents a 5.34% 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 sized at Rs 1.01 crore, based on 2% of the 5-day average traded value. Overall, the surge in open interest and positive price movements highlight Tata Communications' current market position and trading dynamics.