IIFL Finance Sees 14.86% Surge in Open Interest Amid Increased Trading Activity

IIFL Finance Ltd, a small-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 19,419 contracts, reflecting a rise of 2,513 contracts or 14.86% from the previous open interest of 16,906. The trading volume for the day reached 27,367 contracts, indicating robust activity in the market.
In terms of price performance, IIFL Finance is currently trading just 0.75% below its 52-week high of Rs 559.75, having touched an intraday high of Rs 558, which represents a gain of 3.78% for the day. The stock has notably outperformed its sector, delivering a 1D return of 3.20%, compared to the sector's return of 0.46%. Additionally, it has reversed a three-day downward trend, indicating a potential shift in momentum.

Despite a decline in delivery volume, which fell by 67.85% against the five-day average, IIFL Finance remains liquid enough for trades sized at Rs 1.18 crore, based on 2% of the five-day average traded value. Overall, the notable increase in open interest and positive price movements highlight a dynamic trading environment for IIFL Finance.