Indraprastha Gas Ltd Sees Significant Open Interest Surge Amid Active Trading Environment
Indraprastha Gas Ltd (IGL) has seen a notable rise in open interest, reaching 16,112 contracts, alongside a trading volume of 13,935 contracts. The stock has outperformed its sector and is trading above several moving averages, despite a decline in delivery volume compared to recent averages.
Indraprastha Gas Ltd (IGL), a prominent player in the gas transmission and marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 16,112 contracts, reflecting a rise of 1,771 contracts or 12.35% from the previous open interest of 14,341. This uptick in open interest comes alongside a trading volume of 13,935 contracts, indicating active market participation.In terms of price performance, IGL has outperformed its sector by 2.43%, with the stock gaining 3.96% over the last two days. Today, it reached an intraday high of Rs 203.67, marking a 4.18% increase. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Despite this positive momentum, there has been a notable decline in investor participation, with delivery volume dropping by 31.35% compared to the 5-day average. The stock's liquidity remains robust, accommodating trade sizes of up to Rs 1.65 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest for Indraprastha Gas Ltd highlights a notable shift in market dynamics, reflecting the stock's current performance and trading activity.
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