Indraprastha Gas Sees Surge in Open Interest Amid Increased Trading Activity
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, indicating increased trading activity, with current figures at 12,190 contracts. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined significantly in recent sessions.
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 12,190 contracts, up from the previous 10,811 contracts, marking a change of 1,379 contracts or a 12.76% increase. The trading volume for the day reached 17,388 contracts, indicating robust market engagement.In terms of price performance, Indraprastha Gas has outperformed its sector by 0.81%, 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 momentum, there has been a notable decline in investor participation, with delivery volume dropping by 42.36% compared to the 5-day average. The stock remains liquid, with 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 reflect its current standing in the gas industry.
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