Tata Power Sees Surge in Open Interest Amidst Recent Price Declines

Tata Power Company Ltd has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 113,019, up from the previous OI of 83,916. This marks a notable change of 29,103, or 34.68%. The trading volume for the stock reached 70,969, indicating active participation in the market.
In terms of financial performance, Tata Power has underperformed its sector by 0.57% today, with a 1D return of -1.32%. The stock has been on a downward trend, experiencing consecutive losses over the past five days, resulting in a total decline of 4.65%. Currently, Tata Power is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a challenging market position.

Despite these challenges, there has been a notable rise in delivery volume, which reached 33.15 lakh on August 26, an increase of 124.81% compared to the 5-day average. The stock remains liquid enough for trades sized at Rs 3.05 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest suggests heightened activity in Tata Power's trading environment, amidst a backdrop of recent price declines.