Surge in Open Interest for NYKAA Signals Increased Trading Activity Amid Market Challenges

FSN E-Commerce Ventures Ltd, trading under the symbol NYKAA, has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 35,645 contracts, up from the previous figure of 31,527, marking a change of 4,118 contracts or a percentage increase of 13.06%. The trading volume for the day reached 35,425 contracts, contributing to a futures value of approximately Rs 37,089.86 lakhs.
Despite this surge in open interest, the stock has underperformed relative to its sector, declining by 4.63% today. Over the past two days, NYKAA has seen a consecutive fall, with a total decline of 4.78%. The stock opened lower today, with an initial loss of 2.1%, and touched an intraday low of Rs 193.41, reflecting a decrease of 4.85%.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 11.32 crore on May 30, which is a significant increase of 2,210.16% compared to the five-day average. Overall, while the increase in open interest indicates active trading, the stock's recent performance highlights ongoing challenges in the market.