IIFL Finance Sees 16% Surge in Open Interest Amid Increased Trading Activity
IIFL Finance Ltd has seen a significant rise in open interest, reaching 16,100, alongside a trading volume of 12,901. The stock has outperformed its sector, reversing a three-day decline with a 2.71% gain. However, delivery volume has notably decreased by 44.59% compared to the 5-day average.
IIFL Finance Ltd, a small-cap player in the Non-Banking Financial Company (NBFC) sector, has experienced a notable increase in open interest today. The latest open interest stands at 16,100, reflecting a rise of 2,226 from the previous open interest of 13,874, marking a percentage change of 16.04%. The trading volume for the day reached 12,901, contributing to a futures value of approximately Rs 54.25 crore.In terms of price performance, IIFL Finance has outperformed its sector by 2.5%, reversing a three-day decline with a 2.71% gain today. The stock touched an intraday high of Rs 506, representing a 3.31% increase. Additionally, IIFL Finance is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its price trajectory.
However, it is worth noting that delivery volume has decreased significantly, falling by 44.59% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of Rs 0.74 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest alongside the stock's recent performance highlights a significant shift in market dynamics for IIFL Finance.
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