Delhivery Ltd Sees 31.92% Surge in Open Interest Amid Increased Trading Activity
Delhivery Ltd has seen a significant rise in open interest, reaching 24,785 contracts, alongside a trading volume of 63,105. Despite this increase, the stock has underperformed its sector and opened lower, with notable shifts in trading dynamics and a surge in delivery volume, indicating heightened investor participation.
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 24,785 contracts, marking a notable rise of 5,997 contracts or 31.92% from the previous OI of 18,788. This surge in OI coincides with a trading volume of 63,105, indicating heightened activity in the stock.Despite this uptick in open interest, Delhivery's stock has underperformed its sector by 5.53%, opening the day with a loss of 3.06%. The stock reached an intraday low of Rs 443.15, reflecting an 8.6% decline. The weighted average price suggests that more volume was traded closer to this low price, indicating a shift in trading dynamics.
In terms of moving averages, the stock is currently above its 100-day and 200-day averages but below its 5-day, 20-day, and 50-day averages. Additionally, delivery volume has surged to 46.84 lakh shares on November 4, a 364.27% increase compared to the 5-day average, highlighting rising investor participation.
Overall, the increase in open interest for Delhivery Ltd reflects a notable shift in market activity, amidst a backdrop of declining stock performance.
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