Tata Steel Sees 14.78% Surge in Open Interest Amid Strong Trading Activity

Tata Steel Ltd, a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 89,539 contracts, reflecting a rise of 11,531 contracts or 14.78% from the previous OI of 78,008. This uptick in OI comes alongside a trading volume of 70,084 contracts, indicating heightened activity in the stock.
In terms of price performance, Tata Steel reached a new 52-week high of Rs. 177.9 today, outperforming its sector by 0.49%. The stock has shown consistent gains over the past four days, accumulating a total return of 2.93% during this period. Notably, Tata Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Additionally, the stock's delivery volume on October 24 was 1.22 crore, marking a 19.13% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 2,20,608.89 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 notable rise in open interest and robust trading metrics highlight Tata Steel's active market presence today.