IIFL Finance Sees Surge in Open Interest Amid Increased Trading Activity
IIFL Finance Ltd has seen a notable rise in open interest, indicating increased trading activity, with current contracts at 16,520. The stock has outperformed its sector and demonstrated strong price performance, remaining above several moving averages while attracting higher investor participation.
IIFL Finance Ltd, a mid-cap player in the Finance/NBFC sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 16,520 contracts, up from the previous 14,585, marking a change of 1,935 contracts or a 13.27% increase. The trading volume for the day reached 24,705 contracts, contributing to a total futures value of approximately Rs 36,237.25 lakhs.In terms of price performance, IIFL Finance has outperformed its sector by 4.09% today, continuing a positive trend with a 12.03% gain over the past three days. The stock opened with a gain of 2.56% and reached an intraday high of Rs 411.8, reflecting a 6.09% increase. Notably, the stock's performance is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Additionally, the stock has shown rising investor participation, with a delivery volume of 6.73 lakhs on May 12, which is 30.27% higher than the 5-day average. Overall, IIFL Finance's notable spurt in open interest and strong price performance underscores its active trading status in the market.
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