Tech Mahindra Sees Surge in Open Interest, Indicating Increased Trading Activity
Tech Mahindra Ltd. has seen a notable rise in open interest, reaching 65,357 contracts, indicating increased trading activity. The stock has outperformed its sector slightly and remains liquid for substantial trades. Despite a drop in delivery volume, it maintains a strong dividend yield and a significant 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 65,357 contracts, up from the previous figure of 57,205, marking a change of 8,152 contracts or a 14.25% increase. The trading volume for the day reached 55,815 contracts, contributing to a total futures value of approximately Rs 195,926 lakhs.In terms of price performance, Tech Mahindra has outperformed its sector by 0.45%, with a slight gain of 0.09% observed today. The stock has been on a gaining streak for the past day, although it has recorded a marginal decline of 0.14% over this period. Currently, the stock's price is above its 5-day and 20-day moving averages but remains below the 50-day, 100-day, and 200-day moving averages.
Despite a decrease in delivery volume, which fell by 4.58% against the 5-day average, Tech Mahindra maintains a high dividend yield of 3.14%. With a market capitalization of Rs 1,34,592.06 crore, the stock remains liquid enough for trades sized at Rs 5.45 crore. Overall, the notable increase in open interest highlights a shift in trading dynamics for Tech Mahindra, underscoring the stock's current market activity.
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