Surge in Open Interest Signals Increased Market Activity for Info Edge Amid Price Challenges

Info Edge (India) Ltd, a prominent player in the E-Retail and E-Commerce sector, has experienced a notable increase in open interest today. The latest open interest stands at 46,981 contracts, reflecting a rise of 5,079 contracts or 12.12% from the previous open interest of 41,902. This surge in open interest comes alongside a trading volume of 12,758 contracts, indicating heightened activity in the derivatives market.
Despite this uptick in open interest, Info Edge has underperformed its sector, with a 1D return of -1.56%, compared to the sector's decline of -0.61%. The stock has been on a downward trend, having fallen for four consecutive days, resulting in a total decline of 5.89% during this period. Currently, Info Edge is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.

The company's market capitalization is approximately Rs 90,404 crore, categorizing it as a large-cap stock. With a delivery volume of 12.94 lakh on July 28, which is 36.4% higher than the 5-day average, liquidity remains adequate for trades sized at Rs 5.57 crore. Overall, the increase in open interest highlights a significant shift in market dynamics for Info Edge, amidst ongoing price challenges.