Tech Mahindra Sees Surge in Open Interest Amidst Active Derivatives Trading
Tech Mahindra Ltd. has seen a notable rise in open interest, reaching 39,734 contracts, alongside a trading volume of 63,879 contracts. The stock has outperformed its sector and is trading above multiple moving averages, although delivery volume has significantly declined. The company's market cap stands at Rs 1,58,024.14 crore.
Tech Mahindra Ltd., a prominent player in the Computers - Software & Consulting industry, has experienced a significant increase in open interest today. The latest open interest stands at 39,734 contracts, reflecting a rise of 3,761 contracts or 10.46% from the previous open interest of 35,973. This uptick in open interest coincides with a trading volume of 63,879 contracts, indicating robust activity in the derivatives market.In terms of price performance, Tech Mahindra has outperformed its sector by 0.78%, with the stock gaining 4.57% over the past five days. Today, it reached an intraday high of Rs 1,633.5, marking a 3.45% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite this positive momentum, there has been a notable decline in delivery volume, which fell by 71.24% compared to the 5-day average, with a delivery volume of 3.19 lakh shares recorded on June 9. The liquidity remains adequate for trading, with a market cap of Rs 1,58,024.14 crore, positioning Tech Mahindra as a liquid stock for trades around Rs 4.34 crore. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Tech Mahindra.
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