Delhivery Ltd Reports 28.18% Surge in Open Interest Amid Price Decline
Delhivery Ltd has seen a notable rise in open interest, reaching 24,082 contracts, alongside a trading volume of 53,999 contracts. Despite this increase, the stock has underperformed, declining significantly today. Additionally, delivery volume surged, indicating heightened investor participation amid a challenging trading environment.
Delhivery Ltd, a small-cap player in the Transport Services industry, has experienced a significant increase in open interest today. The latest open interest stands at 24,082 contracts, marking a rise of 5,294 contracts or 28.18% from the previous open interest of 18,788. This surge in open interest coincides with a trading volume of 53,999 contracts, indicating heightened activity in the stock.Despite this notable uptick in open interest, Delhivery's stock has underperformed, declining by 7.17% today, compared to a sector decline of 1.84% and a Sensex drop of 0.26%. The stock opened with a loss of 3.06% and reached an intraday low of Rs 443.15, reflecting an 8.6% decrease. The weighted average price suggests that more volume was traded near this low price point.
Additionally, the stock's delivery volume has seen a remarkable increase of 364.27% against its five-day average, indicating rising investor participation. While the stock remains liquid enough for trades of Rs 3.63 crore, it is currently positioned above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages. Overall, the increase in open interest highlights a shift in market dynamics for Delhivery, amidst a challenging trading environment.
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