Wipro Ltd. Sees Significant Open Interest Surge Amidst Recent Price Declines
Wipro Ltd. has seen a significant rise in open interest, reaching 35,442 contracts, alongside a trading volume of 15,580 contracts, indicating increased market activity. Despite this uptick, the stock has underperformed its sector and is experiencing a downward trend over the past two days.
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 35,442 contracts, reflecting a rise of 4,102 contracts or 13.09% from the previous open interest of 31,340. This surge comes alongside a trading volume of 15,580 contracts, indicating active participation in the market.In terms of financial metrics, Wipro's futures value is reported at Rs 30,181.935 lakhs, while the options value is significantly higher at Rs 9,912,631,830 lakhs, bringing the total value to Rs 32,043.9033 lakhs. The underlying value of the stock is noted at Rs 265.
Despite this increase in open interest, Wipro's stock has underperformed its sector by 0.91% today, with a 1D return of -1.07%. The stock has been on a downward trend for the past two days, accumulating a total decline of 1.38%. While the stock is trading above its 20-day and 50-day moving averages, it remains below its 5-day, 100-day, and 200-day moving averages.
In summary, Wipro Ltd. is witnessing a significant uptick in open interest, reflecting heightened trading activity, even as it navigates recent price declines.
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