Mphasis Ltd. Sees Surge in Open Interest Amidst Price Decline and Increased Liquidity
Mphasis Ltd. has seen a notable rise in open interest, reaching 24,121 contracts, alongside a trading volume of 12,311 contracts. The stock hit a new 52-week low, reflecting a downward trend, yet delivery volume increased significantly, indicating heightened market activity despite the challenging price environment.
Mphasis Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 24,121 contracts, up from the previous figure of 21,833, marking a change of 2,288 contracts or a 10.48% increase. The trading volume for the day reached 12,311 contracts, contributing to a total futures value of approximately Rs 17,834.47 lakhs.In terms of price performance, Mphasis hit a new 52-week low of Rs 2,044.55 today, following a downward trend that has seen the stock decline by 16.35% over the past three days. The stock opened with a loss of 7.43% and touched an intraday low of Rs 2,044.55, reflecting an 8.28% drop at its lowest point. Mphasis has underperformed its sector, which has fallen by 5.05%, and is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Despite the challenges, there has been a rise in delivery volume, which increased by 64.14% compared to the 5-day average, indicating a level of liquidity sufficient for trades around Rs 2.27 crore. Overall, the increase in open interest amidst a challenging price environment highlights the dynamic nature of Mphasis Ltd.'s market activity today.
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