Tata Steel Sees 13.38% Surge in Open Interest, Reaching 88,448 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 88,448 contracts, up from the previous 78,008, marking a change of 10,440 contracts or a 13.38% increase. The trading volume for the day reached 64,855 contracts, contributing to a total futures value of approximately Rs 2,18,845.83 lakhs.
In terms of price performance, Tata Steel hit a new 52-week high of Rs 177.9 today and has outperformed its sector by 0.48%. The stock has shown consistent gains over the past four days, accumulating a total return of 2.54% during this period. Notably, Tata Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.

Additionally, the stock's delivery volume on October 24 reached 1.22 crore, reflecting a 19.13% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 2,20,246.87 crore, Tata Steel remains a liquid asset, suitable for trades of approximately Rs 7.53 crore based on 2% of the 5-day average traded value. Overall, the surge in open interest and robust trading metrics highlight Tata Steel's active market presence today.