Indraprastha Gas Ltd Sees Surge in Open Interest Amid Increased Market Activity
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, indicating increased trading activity, with current figures at 10,105 contracts. Despite a decline in stock price, trading volume remains strong, and the stock's liquidity is favorable, reflecting a shift in market dynamics for the company.
Indraprastha Gas Ltd (IGL), a prominent player in the gas industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 10,105 contracts, up from the previous 9,051, marking a change of 1,054 contracts or an 11.65% increase. The trading volume for the day reached 7,193 contracts, indicating robust participation in the market.In terms of price performance, IGL has underperformed its sector by 1.88%, with the stock experiencing a decline after two consecutive days of gains. The stock touched an intraday low of Rs 207.1, representing a drop of 3.4%. Despite this, the stock's weighted average price suggests that more volume was traded closer to this low price point.
Additionally, IGL's moving averages indicate that it is currently above the 5-day, 20-day, 50-day, and 100-day averages, but below the 200-day average. The stock's liquidity remains favorable, with a delivery volume of 12.94 lakh shares on May 29, reflecting a 47.07% increase compared to the 5-day average delivery volume. Overall, the notable rise in open interest highlights a shift in market dynamics for Indraprastha Gas Ltd.
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