Surge in Open Interest Signals Shifting Market Dynamics for One 97 Communications
One 97 Communications Ltd, trading as PAYTM, has seen a significant rise in open interest, indicating increased activity in the derivatives market. The trading volume for the day reached over Rs 105,700 lakhs, despite a decline in investor participation and a recent trend reversal in price performance.
One 97 Communications Ltd, trading under the symbol PAYTM, has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 43,566 contracts, up from the previous figure of 38,498, marking a change of 5,068 contracts or a percentage increase of 13.16%. The trading volume for the day reached 33,627 contracts, contributing to a total futures value of approximately Rs 104,733.57 lakhs and an options value of Rs 8,914.66 lakhs, bringing the total to Rs 105,701.17 lakhs.In terms of price performance, One 97 Communications has underperformed its sector by 0.37%, with a 1-day return of -0.56%. The stock has seen a trend reversal after two consecutive days of gains. Despite this, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a decline in investor participation, with delivery volume dropping by 42.98% compared to the 5-day average.
Overall, the increase in open interest indicates a shift in market dynamics for One 97 Communications, amidst a backdrop of fluctuating trading performance.
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