Indraprastha Gas Sees Surge in Open Interest Amid Increased Trading Activity
Indraprastha Gas Ltd (IGL) has seen a significant rise in open interest, reaching 12,091 contracts, alongside a trading volume of 6,511 contracts. The stock is trading above multiple moving averages, indicating a positive trend, despite a notable decline in delivery volume compared to recent averages.
Indraprastha Gas Ltd (IGL), a small-cap player in the gas industry, has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 12,091 contracts, up from the previous figure of 10,972, marking a change of 1,119 contracts or a 10.2% increase. The trading volume for the day reached 6,511 contracts, indicating robust engagement from market participants.In terms of financial metrics, Indraprastha Gas is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price performance. The stock's underlying value is reported at Rs 215, with a total futures value of approximately Rs 6,048.15 lakhs and an options value of around Rs 3,351.56 crores.
Despite a decline in delivery volume, which fell by 76.06% compared to the 5-day average, the stock remains liquid enough for trades sized at Rs 0.52 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest for Indraprastha Gas highlights a significant shift in market dynamics, warranting attention from stakeholders.
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