Info Edge (India) Ltd Sees 26.54% Surge in Open Interest Amid Trading Challenges
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 54,985 contracts, alongside a trading volume of 27,300 contracts. Despite this increase, the stock has underperformed, declining 1.49% today and 3.47% over the past three days, while trading below key moving averages.
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 54,985 contracts, reflecting a notable rise of 11,534 contracts or 26.54% from the previous open interest of 43,451. This surge coincides with a trading volume of 27,300 contracts, indicating heightened activity in the derivatives market.Despite this uptick in open interest, the stock has underperformed relative to its sector, showing a decline of 1.49% today, while the sector itself fell by 0.98%. Over the past three days, Info Edge has seen a cumulative drop of 3.47%. The stock reached an intraday low of Rs 1,351.7, marking a decrease of 2.43% during the trading session.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 733,000 shares on September 24, although this represents a decline of 26.22% compared to the five-day average. 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.
In summary, while the increase in open interest suggests a shift in market dynamics, the overall performance metrics indicate a period of struggle for Info Edge (India) Ltd.
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