Wipro Ltd. Sees 12.64% Surge in Open Interest Amid Increased Trading Activity
Wipro Ltd. has seen a significant rise in open interest, reaching 94,466 contracts, alongside a trading volume of 73,061 contracts. Despite this increase, the stock has declined by 4.18%, trading below key moving averages. However, delivery volume has risen notably, and the company maintains a high dividend yield.
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 94,466 contracts, reflecting a significant rise of 10,604 contracts or 12.64% from the previous open interest of 83,862. The trading volume for the day reached 73,061 contracts, indicating active participation in the market.Despite this surge in open interest, Wipro's stock has underperformed, declining by 4.18% today, which is notably worse than the sector's decline of 1.15%. The stock touched an intraday low of Rs 242, marking a decrease of 4.65%. Additionally, Wipro is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.
On a positive note, the delivery volume has seen a rise of 52.92% compared to the 5-day average, with a total delivery volume of 55.52 lakh shares on October 16. The stock maintains a high dividend yield of 4.33% at the current price, and its market capitalization is approximately Rs 2,66,027 crore, categorizing it as a large-cap stock. Overall, the increase in open interest amidst a declining stock price presents a complex picture of Wipro's current market dynamics.
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