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, signaling notable trading activity. The latest open interest stands at 86,398 contracts, reflecting a rise of 9,523 contracts or 12.39% from the previous open interest of 76,875. The trading volume for the day reached 108,178 contracts, contributing to a total futures value of approximately Rs 295,830.49 lakhs.
In terms of price performance, Tata Steel is currently trading just 2.25% below its 52-week high of Rs 186.94. However, the stock has underperformed its sector by 0.32% today, marking a consecutive decline over the past two days with a total drop of 1.27%. Despite this recent downturn, Tata Steel remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term upward trend.

Investor participation appears to be waning, with delivery volume on October 30 falling by 37.97% compared to the 5-day average. Nevertheless, the stock maintains sufficient liquidity for trades sized at Rs 12.53 crores, based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst fluctuating price performance highlights the dynamic trading environment surrounding Tata Steel.