Tata Steel Sees 11.03% Surge in Open Interest, Reaching 82,680 Contracts
Tata Steel Ltd has seen a notable rise in open interest, reaching 82,680 contracts, alongside a trading volume of 43,790 contracts. The stock is currently trading near its 52-week high and has shown a reversal trend after recent declines, indicating a dynamic trading environment despite a drop in delivery volume.
Tata Steel Ltd, a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest today, signaling notable activity in its trading. The latest open interest stands at 82,680 contracts, reflecting an increase of 8,213 contracts or 11.03% from the previous open interest of 74,467. The trading volume for the day reached 43,790 contracts, contributing to a total futures value of approximately Rs 163,589.65 lakhs.In terms of price performance, Tata Steel is currently trading just 2.83% below its 52-week high of Rs 174.44, having outperformed its sector by 0.9% today. After three consecutive days of decline, the stock has shown a reversal trend, with a one-day return of 1.34%. It is also noteworthy that the stock's price is above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is below the 5-day moving average.
Despite a decline in delivery volume, which fell by 22.47% against the 5-day average, the stock remains liquid enough for trades of Rs 7.47 crore, indicating a stable market position. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Tata Steel.
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