Tata Steel Sees Significant Open Interest Surge Amid Increased Trading Activity
Tata Steel Ltd has seen a notable rise in open interest, reaching 92,168 contracts, alongside a trading volume of 162,091 contracts. The stock has outperformed its sector, achieving an intraday high of Rs 157.15, and recorded a significant increase in delivery volume, indicating strong market activity.
Tata Steel Ltd, a prominent player in the Steel/Sponge Iron/Pig Iron industry, has experienced a significant increase in open interest today. The latest open interest stands at 92,168 contracts, reflecting a rise of 9,086 contracts or 10.94% from the previous open interest of 83,082. This uptick in open interest coincides with a trading volume of 162,091 contracts, indicating heightened activity in the stock.In terms of price performance, Tata Steel has outperformed its sector by 1.55%, reaching an intraday high of Rs 157.15, which marks a gain of 5.17% for the day. 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. The Steel/Sponge Iron/Pig Iron sector itself has seen a gain of 2.15%.
Additionally, Tata Steel recorded a delivery volume of 2.33 crore on May 13, reflecting a substantial increase of 55.1% compared to its 5-day average delivery volume. The stock's liquidity remains robust, with a trade size of Rs 3.84 crore based on 2% of the 5-day average traded value.
In summary, the notable rise in open interest for Tata Steel, alongside its strong price performance and increased trading activity, underscores the stock's current market dynamics.
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