Indraprastha Gas Ltd Sees Significant Surge in Open Interest Amid Active Trading Environment

Indraprastha Gas Ltd (IGL), a prominent player in the gas transmission and marketing industry, has experienced a notable increase in open interest today. The latest open interest stands at 16,477 contracts, reflecting a rise of 2,136 contracts or 14.89% from the previous open interest of 14,341. This surge in open interest coincides with a trading volume of 25,629 contracts, indicating active market participation.
In terms of price performance, IGL has outperformed its sector by 2.54%, marking a consecutive gain over the last two days with a total return of 3.68% during this period. The stock reached an intraday high of Rs 203.67, representing a 4.18% increase. Currently, IGL's price is above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 31.35% compared to the 5-day average. The stock maintains sufficient liquidity for trades, with a market cap of Rs 27,741 crore, solidifying its position as a large-cap entity in the market. Overall, the increase in open interest and recent price performance highlights significant activity surrounding Indraprastha Gas Ltd.