Indraprastha Gas Sees Significant Surge in Open Interest Amid Increased Market Activity
Indraprastha Gas Ltd (IGL) has seen a significant rise in open interest, reaching 10,107 contracts, alongside a trading volume of 7,702 contracts. Despite underperforming its sector, the stock has experienced a notable increase in delivery volume, indicating heightened market activity and a liquid trading environment.
Indraprastha Gas Ltd (IGL), a prominent player in the gas industry, has experienced a notable increase in open interest today. The latest open interest stands at 10,107 contracts, reflecting a rise of 1,056 contracts or 11.67% from the previous open interest of 9,051. This surge in open interest comes alongside a trading volume of 7,702 contracts, indicating heightened activity in the market.In terms of price performance, IGL has underperformed its sector by 2.09%, with the stock touching an intraday low of Rs 207.1, representing a decline of 3.4%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, it is currently below its 200-day moving average.
Additionally, the stock has seen a significant increase in delivery volume, with 12.94 lakh shares delivered on May 29, marking a 47.07% rise compared to the 5-day average. With a market capitalization of Rs 29,124.23 crore, Indraprastha Gas continues to maintain a liquid trading environment, suitable for transactions of Rs 1.26 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Indraprastha Gas.
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