Tata Steel Sees 12.39% Surge in Open Interest, Reaching 86,398 Contracts

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 86,398 contracts, marking a rise of 9,523 contracts or 12.39% from the previous open interest of 76,875. This surge coincides with a trading volume of 108,178 contracts, indicating robust market engagement.
In terms of price performance, Tata Steel is currently trading close to its 52-week high, just 1.9% away from Rs 186.94. However, the stock has underperformed its sector by 0.33% today, with a 1-day return of -0.99%. Notably, after six consecutive days of gains, the stock has seen a trend reversal. Despite this, Tata Steel remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend.

Additionally, the stock has shown rising investor participation, with a delivery volume of 2.34 crore on October 29, reflecting a 55.31% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 2,28,897.95 crore, Tata Steel continues to be a liquid asset, suitable for trades around Rs 14.95 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for Tata Steel.