Tata Steel Sees 12.39% Surge in Open Interest Amid Increased Trading Activity
Tata Steel Ltd has seen a notable rise in open interest, reaching 86,398 contracts, alongside a trading volume of 108,178 contracts. The stock achieved a new 52-week high, reflecting consistent gains over the past week. The steel sector also experienced an increase, highlighting robust market activity.
Tata Steel Ltd, a prominent player in the ferrous metals industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 86,398 contracts, reflecting a rise of 9,523 contracts or 12.39% from the previous OI of 76,875. This uptick in OI coincides with a trading volume of 108,178 contracts, indicating robust market activity.In terms of price performance, Tata Steel reached a new 52-week high of Rs 186.94 today, marking a 2.82% increase during intraday trading. The stock has shown consistent gains over the past six days, accumulating a total return of 8.17% in this period. Notably, Tata Steel 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 sector, which includes Tata Steel, has also seen a gain of 2.1%. Additionally, the delivery volume on October 28 surged to 2.68 crore shares, a remarkable increase of 130.15% compared to the 5-day average. With a market capitalization of Rs 2,32,256.02 crore, Tata Steel continues to demonstrate solid liquidity, supporting a trade size of Rs 11.03 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and strong price performance underscores the active trading environment surrounding Tata Steel.
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