Delhivery Ltd Sees 35.5% Surge in Open Interest Amid Increased Trading Activity
Delhivery Ltd has seen a notable rise in open interest, reaching 25,458 contracts, alongside a trading volume of 67,535 contracts, indicating increased market activity. Despite this, the stock has declined significantly today, reflecting a complex market situation with heightened investor participation and varying moving averages.
Delhivery Ltd, a small-cap player in the Transport Services industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 25,458 contracts, a notable rise from the previous open interest of 18,788 contracts, marking a change of 6,670 contracts or 35.5%. The trading volume for the day reached 67,535 contracts, indicating robust market engagement.Despite this surge in open interest, Delhivery's stock has underperformed its sector, declining by 6.48% today. The stock opened with a loss of 3.06% and hit an intraday low of Rs 443.15, representing an 8.6% drop from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.
In terms of moving averages, the stock is currently above the 100-day and 200-day moving averages but below the 5-day, 20-day, and 50-day averages. Additionally, delivery volume has surged by 364.27% compared to the 5-day average, indicating rising investor participation. Overall, the increase in open interest amidst a declining stock price presents a complex picture of market dynamics for Delhivery Ltd.
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