Indus Towers Sees Significant Surge in Open Interest Amid Increased Trading Activity
Indus Towers Ltd has seen a significant rise in open interest, reaching 88,704 contracts, alongside a trading volume of 70,128 contracts. The stock has gained 2.14% over two days and is trading above its 5-day and 20-day moving averages, indicating increased market activity and engagement.
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 88,704 contracts, marking a notable rise of 15,882 contracts or 21.81% from the previous open interest of 72,822. This surge in open interest coincides with a trading volume of 70,128 contracts, indicating heightened activity in the stock.In terms of price performance, Indus Towers has shown resilience, gaining 2.14% over the last two days, with a current one-day return of 0.47%. The stock's performance is in line with the sector, which recorded a one-day return of 0.42%, while the Sensex posted a return of 0.43%.
The stock is currently trading above its 5-day and 20-day moving averages, although it remains below the 50-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has seen a substantial increase, rising by 70.47% compared to the 5-day average, reflecting a liquidity level that supports a trade size of Rs 6.2 crore.
Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Indus Towers, underscoring the stock's active engagement in the current trading environment.
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