IRCTC Sees Significant Surge in Open Interest Amidst Market Volatility
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has seen a significant rise in open interest, indicating increased trading activity. The stock's trading volume reached 16,615 contracts, while delivery volume rose by 6.09%. Despite recent declines, IRCTC remains above certain moving averages, reflecting a dynamic trading environment.
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 23,416 contracts, up from the previous 20,901, marking a change of 2,515 contracts or a 12.03% increase. The trading volume for the day reached 16,615 contracts, indicating robust participation in the market.In terms of price performance, IRCTC has outperformed its sector by 0.28%, despite facing a decline over the past two days, with a total drop of 3.69%. The stock touched an intraday low of Rs 748.2, reflecting a decrease of 3.71% during the session. The weighted average price suggests that more volume was traded closer to this low price point.
While the stock remains above its 20-day and 50-day moving averages, it is currently below its 5-day, 100-day, and 200-day moving averages. The travel services sector overall has seen a decline of 2.91%. Notably, IRCTC's delivery volume has increased by 6.09% compared to its five-day average, indicating a liquid trading environment with sufficient capacity for transactions. Overall, the increase in open interest highlights a significant shift in trading dynamics for IRCTC amidst a challenging market backdrop.
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