Info Edge (India) Ltd Sees 30.94% Surge in Open Interest to 56,893 Contracts
Info Edge (India) Ltd has seen a substantial rise in open interest, reaching 56,893 contracts, alongside a trading volume of 31,831 contracts. Despite this, the stock has faced a decline over the past three days and is currently trading below key moving averages, indicating a bearish trend.
Info Edge (India) Ltd, a prominent player in the E-Retail/E-Commerce sector, has experienced a significant increase in open interest today. The latest open interest stands at 56,893 contracts, reflecting a notable rise of 13,442 contracts or 30.94% from the previous open interest of 43,451. The trading volume for the day reached 31,831 contracts, indicating active participation in the market.In terms of price performance, Info Edge has faced challenges recently, with the stock declining for three consecutive days, resulting in a total drop of 3.56%. Today, the stock touched an intraday low of Rs 1,351.7, marking a decrease of 2.43%. Currently, Info Edge is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.
Additionally, the stock's delivery volume has decreased by 26.22% compared to the 5-day average, indicating a decline in investor participation. With a market capitalization of Rs 88,593.71 crore, Info Edge remains a significant entity in its industry. Overall, the increase in open interest amidst recent price declines highlights a noteworthy shift in market dynamics for Info Edge (India) Ltd.
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