Inox Wind Sees Surge in Open Interest Amid Mixed Market Performance Indicators
Inox Wind Ltd has seen a notable rise in open interest, reaching 15,716 contracts, alongside a trading volume of 9,189 contracts. Despite this increase, the stock has underperformed relative to its sector, with a decline observed, while trading above key moving averages. Delivery volume has also decreased.
Inox Wind Ltd, a prominent player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 15,716 contracts, reflecting a rise of 1,852 contracts or 13.36% from the previous open interest of 13,864. The trading volume for the day reached 9,189 contracts, indicating active participation in the market.Despite this uptick in open interest, Inox Wind's stock has underperformed compared to its sector, showing a decline of 3.99%. The stock touched an intraday high of Rs 197, marking a gain of 2.98% for the day. Notably, Inox Wind is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its short to long-term performance metrics.
The renewable energy sector, in which Inox Wind operates, has seen a gain of 6.35%, contrasting with the stock's performance. Additionally, the delivery volume has decreased by 11.36% compared to the 5-day average, indicating a potential decline in investor participation. Overall, the increase in open interest highlights a notable shift in market dynamics for Inox Wind, amidst mixed performance indicators.
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