Tata Chemicals Sees Surge in Open Interest Amidst Declining Stock Performance
Tata Chemicals Ltd. has seen a notable rise in open interest, indicating increased trading activity, with 27,770 contracts recorded today. Despite this, the stock has underperformed its sector, experiencing a decline in price. A rise in delivery volume suggests growing participation, while liquidity remains strong.
Tata Chemicals Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 27,770 contracts, up from the previous 24,552, marking a change of 3,218 contracts or a 13.11% increase. The trading volume for the day reached 20,783 contracts, contributing to a total futures value of approximately Rs 27,047.85 lakhs.Despite this surge in open interest, Tata Chemicals has underperformed its sector, with a decline of 4.06% in its stock price, compared to a sector drop of 2.56%. The stock touched an intraday low of Rs 828, which is a decrease of 4.18%. Additionally, it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
Interestingly, there has been a rise in delivery volume, which increased by 13.13% against the 5-day average, suggesting a growing participation in the stock. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 1.31 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest amidst a declining stock price presents a complex picture for Tata Chemicals.
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