Delhivery Ltd Sees 14.71% Surge in Open Interest Amid Increased Trading Activity
Delhivery Ltd has seen a notable rise in open interest, reaching 21,552 contracts, alongside increased trading volume of 35,227 contracts. Despite this activity, the stock has underperformed, declining significantly. The company maintains a market capitalization of Rs 36,257 crore, indicating its liquidity in the market.
Delhivery Ltd, a small-cap player in the transport services industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 21,552 contracts, marking a rise of 2,764 contracts or 14.71% from the previous OI of 18,788. This uptick in OI coincides with a trading volume of 35,227 contracts, indicating heightened activity in the stock.Despite this surge in OI, Delhivery's stock has underperformed the sector, declining by 5.05% today. The stock opened with a loss of 3.06% and reached an intraday low of Rs 443.15, reflecting an 8.6% drop. The weighted average price suggests that more volume was traded closer to this low price point.
In terms of moving averages, Delhivery's stock is currently above the 100-day and 200-day moving averages but below the 5-day, 20-day, and 50-day averages. Notably, delivery volume surged to 46.84 lakh shares on November 4, representing a 364.27% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 36,257 crore, Delhivery remains a liquid stock, suitable for trades around Rs 3.63 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest reflects a shift in market dynamics for Delhivery, amidst a challenging trading environment.
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