IIFL Finance Sees Significant Open Interest Surge Amidst Active Trading Environment

IIFL Finance Ltd, a mid-cap player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 9,445 contracts, marking a rise of 1,044 contracts or 12.43% from the previous open interest of 8,401. This uptick in open interest coincides with a trading volume of 7,015 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, IIFL Finance has outperformed its sector by 1.47% today, with the stock achieving a 2.19% return. The stock has been on a positive trajectory, gaining for the last eight consecutive days and accumulating a total return of 7.03% during this period. It reached an intraday high of Rs 439.6, reflecting a 2.79% increase.

Additionally, IIFL Finance is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend. The stock's liquidity remains robust, with a delivery volume of 5.74 lakh shares on May 29, which is 37.61% higher than the 5-day average delivery volume. Overall, the notable increase in open interest and positive price performance underscores the stock's active trading environment.