Surge in Open Interest Signals Shift in Market Dynamics for Info Edge
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 47,549 contracts, alongside a trading volume of 37,058 contracts, indicating increased activity in the derivatives market. The stock has outperformed its sector and is trading above several moving averages, despite a decline in delivery volume.
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 47,549 contracts, reflecting a notable rise of 10,941 contracts or 29.89% from the previous open interest of 36,608. This surge coincides with a trading volume of 37,058 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Info Edge has outperformed its sector by 1.54%, reaching an intraday high of Rs 1,531.4, which represents a 3.32% increase. The stock's current underlying value is Rs 1,502, and it has shown resilience by trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Despite a decline in delivery volume, which has fallen by 29.09% against the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 2.99 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Info Edge, reflecting changing investor sentiment and trading behavior.
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