Torrent Power Ltd. Sees 10.25% Surge in Open Interest Amid Increased Futures Activity
Torrent Power Ltd. has seen a significant rise in open interest, reaching 20,832 contracts, indicating increased trading activity. The day's trading volume was 13,564 contracts, with a total value of approximately Rs 25,515.78 lakhs. Despite this activity, the stock has faced recent performance challenges.
Torrent Power Ltd. has experienced a notable increase in open interest today, signaling heightened activity in the stock. The latest open interest stands at 20,832 contracts, reflecting a rise of 1,936 contracts or 10.25% from the previous open interest of 18,896. The trading volume for the day reached 13,564 contracts, contributing to a futures value of approximately Rs 25,270.42 lakhs and an options value of around Rs 3,969.33 crores, culminating in a total value of Rs 25,515.78 lakhs.In terms of price performance, Torrent Power is currently trading 4.3% away from its 52-week low of Rs 1,207.25. The stock has underperformed slightly against its sector, with a 1D return of -0.29%, compared to the sector's -0.62% and the Sensex's -0.49%. Additionally, the stock has been on a downward trend, losing 1.39% over the last two days. It is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.
Overall, the increase in open interest for Torrent Power highlights a significant shift in trading activity, amidst a backdrop of declining stock performance and liquidity concerns.
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