Indus Towers Sees Significant Open Interest Surge Amidst Market Activity Shift
Indus Towers Ltd has seen a significant rise in open interest, reaching 68,907 contracts, alongside a trading volume of 60,960 contracts, indicating increased activity in the derivatives market. Despite this, delivery volume has declined sharply, suggesting a shift in market dynamics that may interest participants.
Indus Towers Ltd, a prominent player in the Telecom Equipment & Accessories sector, has experienced a significant increase in open interest today. The latest open interest stands at 68,907 contracts, marking a notable rise of 10,992 contracts or 18.98% from the previous open interest of 57,915. This surge in open interest coincides with a trading volume of 60,960 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Indus Towers has underperformed its sector by 0.44%, with the stock reaching an intraday high of Rs 416.9, reflecting a gain of 3.73% during the trading session. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its short to long-term performance metrics.
Despite the increase in open interest, the delivery volume has seen a decline, with a reported 13.95 lakh shares delivered on June 23, down 64.39% compared to the 5-day average. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 4.82 crore based on 2% of the 5-day average traded value.
Overall, the notable rise in open interest for Indus Towers reflects a shift in market dynamics, warranting attention from market participants.
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