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. 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. This uptick coincides with a trading volume of 108,178 contracts, indicating heightened activity in the stock.
In terms of price performance, Tata Steel is currently trading close to its 52-week high, just 2.18% away from reaching Rs 186.94. However, the stock has underperformed its sector by 0.38% today, with a 1D return of -0.73%. Over the past two days, Tata Steel has seen a consecutive decline, with a total drop of 1.21%. Despite this, the stock remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a relatively strong position in the market.

Notably, delivery volume has decreased significantly, falling by 37.97% against the 5-day average, which may indicate a shift in investor participation. With a market capitalization of Rs 2,28,461.03 crore, Tata Steel continues to maintain a liquid trading environment, suitable for transactions of up to Rs 12.53 crore based on recent trading metrics. Overall, the increase in open interest highlights a notable shift in market dynamics for Tata Steel.