Tata Communications Sees Significant Open Interest Surge Amid Strong Market Activity
Tata Communications Ltd has seen a significant rise in open interest, reaching 18,782 contracts, alongside a trading volume of 55,124 contracts. The stock has outperformed its sector, showing a consistent upward trend over the past week, despite a decline in delivery volume.
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 18,782 contracts, marking a notable rise of 4,862 contracts or 34.93% from the previous open interest of 13,920. This surge in open interest coincides with a trading volume of 55,124 contracts, reflecting robust market activity.In terms of price performance, Tata Communications has outperformed its sector by 4.09% today, with the stock opening up 3.78% and reaching an intraday high of Rs 1,816.6, a gain of 5.26%. Over the past week, the stock has shown a consistent upward trend, gaining 10.36% over the last seven days. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong bullish momentum.
Despite a decline in delivery volume 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 alongside solid price performance underscores the active trading environment surrounding Tata Communications.
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