Tech Mahindra Sees Surge in Open Interest Amid Increased Trading Activity
Tech Mahindra Ltd. has seen a notable rise in open interest, reaching 39,901 contracts, alongside a trading volume of 46,133 contracts. The stock has outperformed its sector and is trading above key moving averages, despite a significant drop in delivery volume. The company maintains a strong market capitalization.
Tech Mahindra Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 39,901 contracts, up from the previous figure of 35,973, marking a change of 3,928 contracts or a 10.92% increase. The trading volume for the day reached 46,133 contracts, contributing to a total futures value of approximately Rs 49,179.62 lakhs.In terms of price performance, Tech Mahindra has outperformed its sector by 1.55%, with the stock gaining 5.73% over the last five days. Today, it reached an intraday high of Rs 1,633.50, reflecting a rise of 3.45%. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is noteworthy that delivery volume has decreased significantly, with a reported 3.19 lakh shares delivered on June 9, down 71.24% compared to the 5-day average. Despite this decline in investor participation, Tech Mahindra maintains a market capitalization of Rs 1,59,277.45 crore, solidifying its position as a large-cap player in the Computers - Software & Consulting industry. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Tech Mahindra.
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