IIFL Finance Sees Significant Open Interest Surge Amid Increased Trading Activity
IIFL Finance Ltd has seen a notable rise in open interest, reaching 6,710 contracts, alongside increased trading volume of 2,488 contracts. Despite this activity, the stock has underperformed its sector and experienced a decline after two days of gains, with significant delivery volume also noted.
IIFL Finance Ltd, a mid-cap player in the Finance/NBFC sector, has experienced a significant increase in open interest today. The latest open interest stands at 6,710 contracts, reflecting a rise of 741 contracts or 12.41% from the previous open interest of 5,969. This uptick coincides with a trading volume of 2,488 contracts, indicating heightened activity in the stock.In terms of price performance, IIFL Finance has underperformed its sector by 3.18%, with the stock falling after two consecutive days of gains. It reached an intraday low of Rs 322.2, marking a decline of 4.36%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock is currently above its 20-day moving averages, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages.
Additionally, the delivery volume has seen a notable increase, with 16.15 lakh shares delivered on March 27, up 73.53% compared to the 5-day average. The liquidity remains robust, accommodating trade sizes of Rs 1.72 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for IIFL Finance.
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