Surge in Open Interest Signals Increased Market Activity for Info Edge (India) Ltd
Info Edge (India) Ltd has seen a significant rise in open interest, reaching 29,864 contracts, alongside a trading volume of 29,673 contracts. The stock has outperformed its sector with a 1.69% return, despite a decline in delivery volume. The company maintains a market cap of Rs 87,891 crore.
Info Edge (India) Ltd, a prominent player in the IT software sector, has experienced a notable increase in open interest today. The latest open interest stands at 29,864 contracts, reflecting a rise of 3,715 contracts or 14.21% from the previous open interest of 26,149. This surge in open interest coincides with a trading volume of 29,673 contracts, indicating active market participation.In terms of price performance, Info Edge has outperformed its sector with a 1.69% return today, while the sector itself saw a marginal increase of 0.02%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Currently, the stock's price is higher than its 20-day moving average but remains below the 5-day, 50-day, 100-day, and 200-day moving averages.
Despite a decline in delivery volume, which has fallen by 49.55% compared to the 5-day average, the stock maintains sufficient liquidity for trading, with a market cap of Rs 87,891 crore. Overall, the increase in open interest and the stock's performance today highlight significant activity in Info Edge (India) Ltd, reflecting underlying market dynamics.
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