Tech Mahindra Sees Surge in Open Interest Amidst Declining Investor Participation
Tech Mahindra Ltd. has seen a substantial rise in open interest, reaching 33,617, up from 12,219. The stock's trading volume hit 9,129, contributing to a total futures and options value of approximately Rs 30,464.19 lakhs. Despite this activity, the stock has underperformed its sector recently.
Tech Mahindra Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 33,617, a notable rise from the previous OI of 12,219. This change represents an increase of 21,398, or 175.12%. The trading volume for the stock reached 9,129, contributing to a futures value of approximately Rs 29,067.22 lakhs and an options value of around Rs 6,356.30 crores, bringing the total value to Rs 30,464.19 lakhs.In terms of price performance, Tech Mahindra has underperformed its sector by 1.43% today, marking a consecutive decline over the last two days with a total drop of 1.27%. The stock is currently trading above its 50-day, 100-day, and 200-day moving averages, but below its 5-day and 20-day moving averages. Additionally, there has been a decline in investor participation, with delivery volume falling by 44.74% compared to the 5-day average.
As a large-cap player in the Computers - Software & Consulting industry, Tech Mahindra's recent open interest surge highlights notable trading activity, reflecting shifts in market dynamics without indicating future price movements.
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