Surge in Open Interest for Info Edge Signals Increased Market Activity Amid Price Challenges
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 44,281 contracts, alongside a trading volume of 57,043 contracts. Despite this increase, the stock has underperformed its sector and experienced a decline over the past two days, with robust liquidity noted in delivery volumes.
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 44,281 contracts, marking a notable rise of 10,862 contracts or 32.5% from the previous open interest of 33,419. This surge in open interest coincides with a trading volume of 57,043 contracts, reflecting active market participation.Despite this uptick in open interest, the stock has underperformed its sector by 0.5%, with a 1D return of -2.71%. Over the past two days, Info Edge has seen a consecutive decline, with a total drop of 2.35%. The stock reached an intraday low of Rs 1,443, down 2.07% during the trading session.
In terms of moving averages, the stock is currently above its 20-day and 50-day moving averages but below its 5-day, 100-day, and 200-day averages. The liquidity remains robust, with a delivery volume of 4.43 lakh shares, which has increased by 8.4% compared to the 5-day average delivery volume.
In summary, while Info Edge (India) Ltd has shown a marked increase in open interest, it continues to face challenges in price performance amidst fluctuating market conditions.
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