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 active market participation.
In terms of price performance, Tata Steel is currently trading close to its 52-week high, just 2.1% away from Rs 186.94. However, the stock has underperformed its sector, showing a decline of 0.73% today compared to a sector decline of 0.41%. Over the past two days, Tata Steel has faced consecutive losses, with a total drop of 1.13%.

Despite these challenges, 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, the delivery volume has decreased by 37.97% against the 5-day average, indicating a decline in investor participation. With a market capitalization of Rs 2,28,448.55 crore, Tata Steel continues to be a significant entity in the large-cap segment of the market.