IRCTC Sees Significant Surge in Open Interest Amidst Mixed Trading Performance
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has seen a significant rise in open interest, reaching 39,138 contracts, alongside a trading volume of 19,744 contracts. Despite a decline in price performance and reduced investor participation, the stock maintains adequate liquidity for trading activities.
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 39,138 contracts, up from the previous figure of 34,980, marking a change of 4,158 contracts or an 11.89% increase. The trading volume for the day reached 19,744 contracts, indicating robust engagement in the market.In terms of price performance, IRCTC has underperformed its sector by 3.1%, with a 1D return of -1.74%. The stock touched an intraday low of Rs 777, which represents a decline of 2.04%. Despite this, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is trading below its 5-day and 200-day moving averages.
Investor participation has shown signs of decline, with delivery volume falling by 16.35% compared to the 5-day average. The liquidity of the stock remains adequate, allowing for trades up to Rs 1.31 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for IRCTC, amidst a backdrop of fluctuating price performance.
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