Surge in Open Interest Signals Increased Activity in IRCTC Derivatives Market
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has seen a notable rise in open interest in the derivatives market, reaching 46,412 contracts. Despite a decline in stock price and underperformance relative to its sector, trading volume remains strong, indicating active market participation. The company's market cap stands at Rs 63,320 crore.
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) has experienced a significant increase in open interest today, reflecting notable activity in the derivatives market. The latest open interest stands at 46,412 contracts, a substantial rise from the previous open interest of 34,980 contracts, marking a change of 11,432 contracts or 32.68%. The trading volume for the day reached 42,327 contracts, indicating robust participation in the market.In terms of price performance, IRCTC has underperformed its sector by 3.44%, with the stock experiencing a decline after three consecutive days of gains. The stock touched an intraday low of Rs 776.4, representing a decrease of 2.11%. Despite this, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is below the 5-day and 200-day moving averages.
Investor participation has shown signs of decline, with a delivery volume of 3.33 lakh shares on May 27, down 16.35% compared to the five-day average. The stock's liquidity remains adequate for trading, with a market cap of Rs 63,320 crore, placing it in the large-cap category. Overall, the increase in open interest highlights a shift in market dynamics for IRCTC, amidst a backdrop of fluctuating stock performance.
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