Tech Mahindra Sees 11.37% Surge in Open Interest, Reaching 57,061 Contracts

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 57,061 contracts, reflecting a rise of 5,824 contracts or 11.37% from the previous open interest of 51,237. This uptick in open interest comes alongside a trading volume of 52,298 contracts, indicating active participation in the market.
Despite this notable activity, Tech Mahindra's stock has underperformed its sector, showing a 1D return of -0.21%, while the sector and Sensex both recorded a 1D return of 0.24%. The stock has recently reversed a five-day downward trend, although it continues to trade below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

Additionally, the stock's delivery volume has decreased by 20.73% compared to the 5-day average, suggesting a decline in investor participation. With a market capitalization of Rs 1,37,599.12 crore and a high dividend yield of 3.19%, Tech Mahindra remains a significant entity in the large-cap segment. Overall, the increase in open interest highlights a shift in market dynamics, warranting attention from market observers.