Tata Elxsi Sees Surge in Open Interest Amidst Price Decline and Increased Trading Activity
Tata Elxsi Ltd. has seen a notable rise in open interest, reaching 29,704 contracts, alongside a trading volume of 18,898 contracts. Despite hitting a new 52-week low and underperforming its sector, investor participation has increased significantly, indicating heightened trading activity around the stock.
Tata Elxsi Ltd., a prominent player in the IT software industry, has experienced a significant increase in open interest today. The latest open interest stands at 29,704 contracts, reflecting a rise of 2,969 contracts or 11.11% from the previous open interest of 26,735. The trading volume for the day reached 18,898 contracts, contributing to a total futures value of approximately Rs 29,402.35 lakhs and an options value of around Rs 6,920.52 lakhs, culminating in a total value of Rs 31,067.87 lakhs.In terms of price performance, Tata Elxsi hit a new 52-week low of Rs 5,042, marking a decline of 3.31% during intraday trading. The stock has underperformed its sector by 0.32% and has seen a consecutive fall over the past three days, resulting in an overall decline of 8.61%. Additionally, Tata Elxsi is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Despite these challenges, the stock has shown rising investor participation, with a delivery volume of 2.05 lakhs on March 28, which is up by 91.96% compared to the 5-day average. Overall, the notable increase in open interest amidst a challenging price environment highlights the dynamic nature of trading activity surrounding Tata Elxsi.
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