Info Edge (India) Ltd Sees 10.3% Surge in Open Interest Amid Declining Stock Performance
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 35,759 contracts, alongside increased trading volume. However, the stock has underperformed, experiencing consecutive losses and trading below key moving averages, with a notable decline in delivery volume compared to recent averages.
Info Edge (India) Ltd, a prominent player in the E-Retail and E-Commerce sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 35,759 contracts, reflecting a rise of 3,339 contracts or 10.3% from the previous OI of 32,420. This uptick in OI comes alongside a trading volume of 21,697 contracts, indicating heightened activity in the derivatives market.Despite this increase in open interest, Info Edge has underperformed its sector, with a decline of 3.07% today. The stock has faced consecutive losses over the past two days, accumulating a total return of -3.52%. During today's trading session, the stock reached an intraday low of Rs 1,332.6, marking a decrease of 2.55% from the previous close.
The weighted average price suggests that more volume was traded closer to this low price, and the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has decreased significantly, falling by 38.72% compared to the 5-day average.
In summary, while the increase in open interest indicates a shift in market dynamics, Info Edge (India) Ltd continues to face challenges in its stock performance amidst broader market trends.
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