Surge in Open Interest for Tech Mahindra Signals Increased Trading Activity and Sector Momentum
Tech Mahindra Ltd. has seen a notable rise in open interest, indicating increased trading activity. The stock's trading volume reached significant levels, contributing to a total futures and options value of approximately Rs 248,127.49 lakhs. The company has also outperformed its sector recently, reflecting positive market trends.
Tech Mahindra Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 64,736 contracts, up from the previous 58,444, marking a change of 6,292 contracts or a 10.77% increase. The trading volume for the day reached 99,741 contracts, contributing to a total futures value of approximately Rs 239.72 lakhs and an options value of around Rs 62,799.89 lakhs, culminating in a total value of Rs 248,127.49 lakhs. The underlying value of the stock is currently at Rs 1,435.In terms of price performance, Tech Mahindra has outperformed its sector by 0.77%, with the stock gaining 10.1% over the last three days. Today, it opened with a gain of 3.08% and reached an intraday high of Rs 1,449.4, reflecting a 5.3% increase. The stock is currently trading above its 5-day and 20-day moving averages, although it remains below its 50-day, 100-day, and 200-day moving averages. The IT - Software sector has also shown positive movement, gaining 3.77% today.
Overall, the notable rise in open interest for Tech Mahindra indicates increased trading activity, aligning with its recent price performance and sector trends.
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