Torrent Power Ltd. Sees 12.62% Surge in Open Interest to 15,666 Contracts
Torrent Power Ltd. has seen a significant rise in open interest, reaching 15,666 contracts, alongside a trading volume of 5,826 contracts. The stock hit a new 52-week low and is currently trading below multiple moving averages, indicating a bearish trend, while delivery volume has notably increased.
Torrent Power Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 15,666 contracts, up from the previous figure of 13,910, marking a change of 1,756 contracts or a percentage increase of 12.62%. The trading volume for the day reached 5,826 contracts, contributing to a futures value of approximately Rs 7,373.28 lakhs and an options value of around Rs 1,992.52 crores, bringing the total value to Rs 7,774.14 lakhs.In terms of price performance, Torrent Power hit a new 52-week low of Rs 1,188 today, reflecting a decline of 2.71% from the day's high. The stock has underperformed its sector by 2.28%, with a one-day return of -2.20%. Additionally, it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Notably, delivery volume has seen a significant rise of 52.63% compared to the 5-day average, suggesting increased trading activity.
In summary, the surge in open interest for Torrent Power Ltd. highlights a shift in market dynamics, while the stock's recent price movements and performance metrics provide a comprehensive view of its current standing in the power industry.
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