Surge in Open Interest Signals Increased Trading Activity for Adani Ports

Adani Ports & Special Economic Zone Ltd (symbol: ADANIPORTS) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 106,209 contracts, up from the previous figure of 96,252, marking a change of 9,957 contracts or a 10.34% increase. The trading volume for the day reached 65,002 contracts, contributing to a total futures value of approximately Rs 115,839.32 lakhs.
In terms of price performance, Adani Ports has shown a decline after six consecutive days of gains, with the stock touching an intraday low of Rs 1,174.55, representing a decrease of 2.19%. The weighted average price indicates that more volume was traded closer to this low price. Notably, the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average.

Additionally, the stock has seen a rise in delivery volume, with 12.6 lakh shares delivered on March 24, reflecting a 22.56% increase compared to the 5-day average. With a market capitalization of Rs 2,59,551 crore, Adani Ports continues to maintain a liquid trading environment, suitable for transactions of Rs 5.67 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Adani Ports.