Eicher Motors Sees Significant Open Interest Surge Amid Active Market Participation

Eicher Motors Ltd, a prominent player in the Automobile Two & Three Wheelers sector, has experienced a significant increase in open interest today. The latest open interest stands at 34,302 contracts, reflecting a rise of 3,805 contracts or 12.48% from the previous open interest of 30,497. This uptick comes alongside a trading volume of 37,274 contracts, indicating active market participation.
In terms of price performance, Eicher Motors underperformed its sector by 1.58%, with the stock reaching an intraday high of Rs 5,525, marking a gain of 3.32% during the trading session. The weighted average price suggests that more volume was traded closer to the lower end of the price range. Notably, the stock is currently above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is below the 5-day moving average.

Despite a decline in delivery volume, which fell by 27.13% against the 5-day average, the stock remains liquid enough for trades of Rs 4.19 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Eicher Motors, reflecting changing investor sentiment.