IRCTC Sees Significant Rise in Open Interest Amid Increased Trading Activity
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has seen a significant rise in open interest, reaching 23,516 contracts today. The trading volume hit 18,494 contracts, with a futures value of around Rs 23,027.91 lakhs. Despite recent declines, IRCTC retains a market capitalization of Rs 61,656 crore.
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 23,516 contracts, up from the previous 20,901 contracts, marking a change of 2,615 contracts or a 12.51% increase. The trading volume for the day reached 18,494 contracts, contributing to a futures value of approximately Rs 23,027.91 lakhs.In terms of price performance, IRCTC has underperformed its sector, showing a decline of 3.21% today, while the travel services industry overall fell by 2.02%. The stock has been on a downward trend, losing 4.15% over the past two days. It touched an intraday low of Rs 748.2, reflecting a decrease of 3.71% from its previous close. The weighted average price indicates that more volume was traded closer to this low price.
Despite the recent challenges, IRCTC maintains a market capitalization of Rs 61,656 crore, categorizing it as a large-cap stock. The increase in open interest may suggest a shift in market dynamics, warranting close observation of future trading patterns.
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