FSN E-Commerce Ventures Sees Surge in Open Interest Amid Market Challenges
FSN E-Commerce Ventures Ltd, trading as NYKAA, has seen a significant rise in open interest, reaching 35,196 contracts amid increased trading activity. However, the stock has underperformed, declining over the past two days and opening lower today, despite favorable liquidity conditions.
FSN E-Commerce Ventures Ltd, trading under the symbol NYKAA, has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 35,196 contracts, up from the previous figure of 31,527, marking a change of 3,669 contracts or an 11.64% increase. The trading volume for the day reached 33,606 contracts, indicating robust participation.Despite this surge in open interest, the stock has underperformed its sector, declining by 4.84% today. It has faced consecutive losses over the past two days, with a total drop of 4.79% during this period. The stock opened lower, down 2.1%, and hit an intraday low of Rs 193.41, reflecting a decrease of 4.85% from the previous close.
In terms of moving averages, the stock is currently above the 50-day, 100-day, and 200-day averages, yet below the 5-day and 20-day averages. The liquidity remains favorable, with a delivery volume of 11.32 crore on May 30, which is a significant increase of 2,210.16% compared to the 5-day average.
In summary, while FSN E-Commerce Ventures Ltd has seen a significant rise in open interest, the stock's recent performance indicates challenges in the current market environment.
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