Indraprastha Gas Ltd Sees Significant Surge in Open Interest Amid Increased Market Activity
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, reaching 16,695 contracts, alongside a trading volume of 27,817 contracts. The stock has outperformed its sector and achieved consecutive gains, while also showing strong liquidity despite a decline in delivery volume.
Indraprastha Gas Ltd (IGL), a prominent player in the gas transmission and marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 16,695 contracts, reflecting a rise of 2,354 contracts or 16.41% from the previous open interest of 14,341. This uptick in open interest coincides with a trading volume of 27,817 contracts, indicating heightened activity in the market.In terms of price performance, IGL has outperformed its sector by 3.25%, marking a consecutive gain over the last two days with a total return of 4.47%. The stock reached an intraday high of Rs 203.89, representing a 4.29% increase during the trading session. While the stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below its 200-day moving average.
Despite a decline in delivery volume, which fell by 31.35% against the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 1.65 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest for Indraprastha Gas Ltd highlights a dynamic trading environment, reflecting the stock's current market activity.
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