Torrent Power Ltd. Sees 34.96% Surge in Open Interest to 24,052 Contracts
Torrent Power Ltd. has seen a notable rise in open interest, reaching 24,052 contracts, alongside a trading volume of 40,153 contracts. Despite this activity, the stock has underperformed its sector and experienced a decline in delivery volume, indicating a shift in market dynamics amid downward pressure.
Torrent Power Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 24,052 contracts, up from the previous open interest of 17,821 contracts, marking a change of 6,231 contracts or a 34.96% increase. The trading volume for the day reached 40,153 contracts, indicating robust engagement in the market.Despite this surge in open interest, the stock has underperformed its sector by 3.4%, with a 1D return of -3.15%. The stock touched 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, indicating a shift in trading dynamics.
In terms of moving averages, the stock is currently above the 50-day moving average but below the 5-day, 20-day, 100-day, and 200-day moving averages. Additionally, there has been a decline in delivery volume, which fell by 20.72% against the 5-day average. With a market capitalization of Rs 65,427 crore, Torrent Power remains a mid-cap player in the power industry. Overall, the increase in open interest highlights a shift in market activity, even as the stock faces downward pressure.
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