Indraprastha Gas Sees Surge in Open Interest Amid Ongoing Market Challenges
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, reaching 18,606 contracts, alongside a trading volume of 23,032 contracts. Despite this increased trading activity, the stock has underperformed, declining for four consecutive days and showing a significant drop today compared to its sector.
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 18,606 contracts, marking a rise of 2,097 contracts or 12.7% from the previous open interest of 16,509. This surge coincides with a trading volume of 23,032 contracts, indicating robust market engagement.Despite this uptick in open interest, IGL's stock has underperformed relative to its sector, showing a decline of 2.08% today, compared to a sector decline of 1.31%. The stock has been on a downward trend, having fallen for four consecutive days, resulting in a total decline of 7.35% during this period. Today, IGL opened with a loss of 2.04% and reached an intraday low of Rs 193.12, reflecting a decrease of 4.93%.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 24.77 lakh shares on June 12, which is 29.98% higher than its five-day average. Overall, while the increase in open interest suggests active trading, the stock's recent performance indicates ongoing challenges in the market.
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