Wipro Ltd. Sees Significant Open Interest Surge Amid Ongoing Stock Decline

Wipro Ltd., a prominent player in the Computers - Software & Consulting sector, has experienced a notable increase in open interest today. The latest open interest stands at 57,251 contracts, reflecting a rise of 5,425 contracts or 10.47% from the previous open interest of 51,826. This surge in open interest comes alongside a trading volume of 20,225 contracts, indicating active market participation.
Despite this uptick in open interest, Wipro's stock has underperformed, with a decline of 2.11% today, trailing behind its sector's performance, which saw a decrease of 1.20%. The stock has been on a downward trend, having fallen for three consecutive days, resulting in a total decline of 3.26% over this period. The stock touched an intraday low of Rs 242.22, down 2.45% from the previous close.

Wipro is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. The company maintains a high dividend yield of 4.43%, and its market capitalization is approximately Rs 2,57,457 crore, categorizing it as a large-cap stock. Overall, the increase in open interest highlights a significant shift in market dynamics, even as the stock faces headwinds in its recent performance.