Tata Steel Sees Surge in Open Interest Amid Increased Trading Activity
Tata Steel Ltd has seen a notable rise in open interest, indicating increased trading activity, with current figures at 54,126 contracts. The stock has outperformed its sector and has shown consistent gains over six days, reflecting strong upward momentum and heightened investor participation in the market.
Tata Steel Ltd, a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 54,126 contracts, up from the previous 48,909, marking a change of 5,217 contracts or a 10.67% increase. The trading volume for the day reached 39,544 contracts, contributing to a total futures value of approximately Rs 56,983.18 lakhs.In terms of performance, Tata Steel has outperformed its sector by 0.87% today, continuing a positive trend with six consecutive days of gains, resulting in a total return of 7.1% over this period. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum.
Additionally, the stock has shown rising investor participation, with a delivery volume of 2.03 crore on June 26, reflecting a 70.22% increase compared to the 5-day average. With a market capitalization of Rs 2,03,357 crore, Tata Steel remains a liquid option for trades sized at Rs 8.6 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and robust trading metrics highlight the stock's active market presence.
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