Eternal Ltd Sees 20.4% Surge in Open Interest Amid Increased Trading Activity

Eternal Ltd, a prominent player in the E-Retail and E-Commerce sector, has experienced a significant increase in open interest today. The latest open interest stands at 197,355 contracts, marking a notable rise of 33,445 contracts or 20.4% from the previous open interest of 163,910. This surge in open interest coincides with a trading volume of 113,811 contracts, indicating heightened activity in the derivatives market.
Despite this uptick in open interest, the stock has underperformed its sector, showing a decline of 1.20% today, while the sector itself fell by 0.32%. Over the past six days, Eternal Ltd has faced consecutive losses, with an overall drop of 8.16% during this period. The stock's current price is below its 5-day, 20-day, and 50-day moving averages, although it remains above the 100-day and 200-day moving averages.

Investor participation has seen a rise, with a delivery volume of 3.7 crore on October 23, reflecting a 70.35% increase compared to the 5-day average. The stock's liquidity remains robust, accommodating trade sizes of Rs 36.08 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Eternal Ltd, amidst a backdrop of recent price declines.