Key Events This Week
Feb 23: Significant open interest surge in derivatives segment
Feb 23: Technical momentum shifts to bullish outlook
Feb 27: Week closes at Rs.100.65 (+0.97%) outperforming Sensex
Feb 23: Surge in Open Interest Signals Renewed Market Activity
On 23 February 2026, GMR Airports Ltd witnessed a notable 14.14% increase in open interest in its derivatives segment, rising from 44,180 to 50,427 contracts. This surge accompanied a 1.10% rise in the stock price to Rs.100.78, outperforming the Sensex’s 0.39% gain that day. The futures trading volume was robust at 27,085 contracts, with a combined futures and options notional value exceeding ₹9,17,67 lakhs, indicating strong participation from traders.
This increase in open interest alongside rising prices typically reflects fresh buying interest and accumulation, suggesting that market participants were positioning for further upside. The stock traded above all key moving averages, reinforcing a bullish technical setup. However, delivery volumes declined sharply, signalling a divergence between short-term trading enthusiasm and longer-term investor conviction.
Feb 23: Technical Momentum Shifts to Bullish Outlook
Also on 23 February, technical indicators for GMR Airports Ltd shifted from mildly bullish to a more confident bullish stance. The stock’s daily moving averages turned positive, supported by bullish weekly and monthly Bollinger Bands. While the weekly MACD and KST oscillators suggested some short-term caution, monthly indicators remained bullish, indicating stronger longer-term momentum.
The Relative Strength Index (RSI) hovered in neutral territory, implying room for further price appreciation without immediate overbought risk. On-Balance Volume (OBV) readings were bullish on both weekly and monthly timeframes, confirming increasing buying pressure. This technical evolution aligns with the stock’s outperformance relative to the Sensex, which gained only 0.39% that day.
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Feb 24 to Feb 26: Steady Gains Amid Mixed Market Sentiment
Following the strong start on 23 February, GMR Airports Ltd continued to post gains on 24 and 25 February, closing at Rs.101.70 (+0.91%) and Rs.102.24 (+0.53%) respectively. These gains came despite the Sensex declining 0.78% on 24 February before recovering modestly on 25 and 26 February. The stock’s ability to advance while the broader market fluctuated highlights its relative strength during the week.
On 26 February, the stock price remained steady at Rs.102.22, a marginal decline of 0.02%, while the Sensex gained 0.19%. Trading volumes varied, with a peak of 414,823 shares on 25 February, indicating active investor interest. The stock’s technical indicators remained supportive, maintaining its position above key moving averages and sustaining bullish momentum.
Feb 27: Profit Booking Leads to Week-End Decline
On the final trading day of the week, 27 February, GMR Airports Ltd declined by 1.54% to close at Rs.100.65, reversing some of the week’s earlier gains. This drop coincided with a broader market sell-off, as the Sensex fell 1.16% to 36,322.56. The decline may reflect profit booking after the stock’s strong run earlier in the week, as well as cautious sentiment amid volatile market conditions.
Despite this pullback, the stock ended the week with a net gain of 0.97%, outperforming the Sensex’s 0.96% loss. The weekly high of Rs.102.24 was recorded on 25 February, underscoring the stock’s resilience and ability to sustain levels above Rs.100 during the week.
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Daily Price Comparison: GMR Airports Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.100.78 | +1.10% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.101.70 | +0.91% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.102.24 | +0.53% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.102.22 | -0.02% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.100.65 | -1.54% | 36,322.56 | -1.16% |
Key Takeaways
Positive Signals: The 14.14% surge in derivatives open interest combined with steady price gains early in the week indicates renewed market interest and fresh capital inflows. Technical momentum shifted decisively bullish, supported by moving averages, Bollinger Bands, and volume-based indicators. The stock’s outperformance relative to the Sensex (+0.97% vs -0.96%) underscores its relative strength amid mixed market conditions.
Cautionary Notes: The sharp decline in delivery volumes suggests that long-term investor conviction remains tentative despite short-term trading enthusiasm. Mixed signals from weekly MACD and KST oscillators imply potential for intermittent volatility or consolidation. The late-week profit booking and price pullback highlight the need for monitoring volume and price action to confirm sustained momentum.
Conclusion
GMR Airports Ltd demonstrated resilience and technical strength during the week, driven by a significant increase in derivatives open interest and a bullish shift in momentum indicators. While the stock managed to outperform the Sensex, the divergence between derivatives activity and delivery volumes suggests a nuanced market sentiment. Investors should continue to observe price and volume trends closely, as well as broader sector developments, to assess the sustainability of this momentum. The current Hold rating and moderate Mojo Score of 51.0 reflect a balanced outlook, encouraging a measured approach amid evolving market dynamics.
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