Torrent Power Ltd. Sees 28.48% Surge in Open Interest to 22,897 Contracts
Torrent Power Ltd., a mid-cap player in the power industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 22,897 contracts, marking a notable rise of 5,076 contracts or 28.48% from the previous open interest of 17,821. The trading volume for the day reached 32,515 contracts, indicating robust market engagement.In terms of price performance, Torrent Power has underperformed its sector by 3.79%, with the stock touching an intraday low of Rs 1,280.8, representing a decline of 4.19%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock remains above its 50-day moving averages, it is currently below the 5-day, 20-day, 100-day, and 200-day moving averages, indicating a mixed trend in short-term performance.
Additionally, investor participation has seen a decline, with delivery volume dropping by 20.72% compared to the 5-day average. Despite these fluctuations, the stock maintains sufficient liquidity for trades sized at Rs 1.26 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Torrent Power, amidst a backdrop of fluctuating price performance.
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