Tata Steel Sees Significant Surge in Open Interest Amidst Increased Trading Activity
Tata Steel Ltd has reported a significant rise in open interest, reaching 92,400 contracts, alongside a robust trading volume of 169,816 contracts. The stock has outperformed its sector, achieving an intraday high and showing strong upward momentum, with notable increases in delivery volume and favorable liquidity.
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 92,400 contracts, reflecting a rise of 9,318 contracts or 11.22% from the previous open interest of 83,082. This surge in open interest comes alongside a robust trading volume of 169,816 contracts, indicating heightened activity in the stock.In terms of price performance, Tata Steel has outperformed its sector by 1.41%, reaching an intraday high of Rs 157.15, which marks a 5.17% increase 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 gained 2.28% today.
Additionally, Tata Steel has seen a notable rise in delivery volume, with 2.33 crore shares delivered on May 13, reflecting a 55.1% increase compared to the 5-day average. The stock's liquidity remains favorable, accommodating trade sizes of Rs 3.84 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and strong trading metrics highlight Tata Steel's active market presence today.
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