Tech Mahindra Sees Surge in Open Interest Amidst Increased Trading Activity
Tech Mahindra Ltd. has seen a notable rise in open interest, reaching 33,349 contracts, up from 12,219. The trading volume for the day was 6,025 contracts, indicating increased activity. Despite recent underperformance and a downward trend, the stock remains above key moving averages, with adequate liquidity.
Tech Mahindra Ltd. has experienced a significant increase in open interest today, marking a notable shift in trading activity. The latest open interest stands at 33,349 contracts, a substantial rise from the previous open interest of 12,219 contracts, reflecting a change of 21,130 contracts or an impressive 172.93%. The trading volume for the day reached 6,025 contracts, indicating heightened activity in the derivatives market.In terms of overall performance, Tech Mahindra's stock has underperformed its sector by 1.31%, with a 1D return of -1.09%. The stock has been on a downward trend, experiencing consecutive declines over the past two days, resulting in a total return of -1.34% during this period. Despite this, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages.
The liquidity of Tech Mahindra's stock appears adequate, with a delivery volume of 10.73 lakh shares on July 3, which has decreased by 44.74% compared to the 5-day average. The company's market capitalization is approximately Rs 1,61,921.82 crore, placing it firmly in the large-cap category within the Computers - Software & Consulting industry. Overall, the increase in open interest suggests a shift in market dynamics, warranting close observation.
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