Indraprastha Gas Sees Surge in Open Interest Amid Increased Trading Activity
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, reaching 12,089 contracts, alongside a trading volume of 15,990 contracts. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined significantly. Liquidity remains adequate for trading.
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 12,089 contracts, up from the previous 10,811 contracts, marking a change of 1,278 contracts or an 11.82% increase. The trading volume for the day reached 15,990 contracts, indicating robust market engagement.In terms of price performance, Indraprastha Gas has outperformed its sector by 0.87%, with the stock touching an intraday high of Rs 221.84, representing a 2.66% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
Despite this positive performance, there has been a notable decline in investor participation, with delivery volume dropping by 42.36% compared to the 5-day average. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 2.14 crore, based on 2% of the 5-day average traded value.
In summary, the increase in open interest for Indraprastha Gas highlights a notable shift in market dynamics, while the stock's performance metrics indicate a solid position within the gas industry.
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