Info Edge (India) Ltd Sees 20.3% Surge in Open Interest to 52,858 Contracts
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 52,858 contracts, while trading volume hit 26,817 contracts. Despite this increase, the stock has underperformed, declining for four consecutive days and trading below key moving averages, indicating a challenging market environment.
Info Edge (India) Ltd, a prominent player in the E-Retail and E-Commerce sector, has experienced a significant increase in open interest today. The latest open interest stands at 52,858 contracts, reflecting a notable rise of 8,919 contracts or 20.3% from the previous open interest of 43,939. The trading volume for the day reached 26,817 contracts, contributing to a total futures value of approximately Rs 73,331.04 lakhs.Despite this surge in open interest, the stock has underperformed relative to its sector, showing a decline of 2.33% on the day, while the IT - Software sector fell by 2.03%. Info Edge has been on a downward trend, with the stock losing ground for four consecutive days, resulting in a total decline of 6.69% during this period. The stock touched an intraday low of Rs 1,321.80, down 2.71% from the previous close.
Currently, Info Edge is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Additionally, delivery volume has decreased by 20.82% compared to the 5-day average, suggesting a decline in investor participation. Overall, the increase in open interest amidst a declining stock price highlights a complex market dynamic for Info Edge (India) Ltd.
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