Surge in Open Interest Signals Increased Trading Activity for Persistent Systems Ltd
Persistent Systems Ltd has seen a notable rise in open interest, reaching 86,304 contracts, an increase of 11.2%. The trading volume for the day was robust at 121,752 contracts. Despite mixed price performance, the stock's liquidity remains adequate, indicating active market engagement.
Persistent Systems Ltd, a prominent player in the IT software industry, has experienced a significant increase in open interest today. The latest open interest stands at 86,304 contracts, reflecting a rise of 8,693 contracts or 11.2% from the previous open interest of 77,611. The trading volume for the day reached 121,752 contracts, indicating robust activity in the derivatives market.In terms of price performance, Persistent Systems has shown a mixed trend. The stock has underperformed its sector by 0.57%, despite gaining 4.28% over the last two days. Today, it reached an intraday high of Rs 5,006, marking a 3.52% increase, while the intraday low was Rs 4,715, a decrease of 2.5%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.
Additionally, the stock's liquidity remains adequate, with a trading capacity of Rs 6.68 crore based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Persistent Systems, reflecting heightened trading activity amidst a fluctuating price environment.
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