Wipro Sees Significant Surge in Open Interest Amidst Increased Derivatives Activity
Wipro Ltd. has seen a significant rise in open interest, reaching 35,676 contracts, alongside a trading volume of 16,856 contracts, indicating increased activity in the derivatives market. Despite recent stock underperformance and consecutive declines, Wipro maintains a strong market capitalization of approximately Rs 2,77,777.12 crore.
Wipro Ltd., a prominent player in the Computers - Software & Consulting industry, has experienced a notable increase in open interest today. The latest open interest stands at 35,676 contracts, reflecting a rise of 4,336 contracts or 13.84% from the previous open interest of 31,340. This surge in open interest comes alongside a trading volume of 16,856 contracts, indicating heightened activity in the derivatives market.In terms of performance, Wipro's stock has underperformed its sector by 0.88%, with a 1D return of -1.31%. Over the past two days, the stock has seen a consecutive decline, totaling a drop of 1.58%. Despite this, the stock remains above its 20-day and 50-day moving averages, although it is trading below its 5-day, 100-day, and 200-day moving averages.
The liquidity of Wipro's stock appears robust, with a delivery volume of 45.91 lakh shares on June 26, which is a 3.97% increase compared to the 5-day average delivery volume. The market capitalization of Wipro is approximately Rs 2,77,777.12 crore, solidifying its position as a large-cap entity in the market. Overall, the increase in open interest highlights a significant shift in market dynamics for Wipro, reflecting ongoing trading activity amidst recent price movements.
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