Inox Wind Sees Surge in Open Interest Amidst Declining Stock Performance

Inox Wind Ltd, a prominent player in the renewable energy sector, has experienced a significant increase in open interest today. The latest open interest stands at 2,075 contracts, marking a rise of 439 contracts or 26.83% from the previous open interest of 1,636. This surge in open interest comes alongside a trading volume of 1,274 contracts, indicating heightened activity in the stock.
Despite this uptick in open interest, Inox Wind has faced challenges in its stock performance, having declined by 4.51% over the past two days. Currently, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a bearish trend. The stock's performance today has outpaced its sector by 0.64%, although it recorded a slight 1D return of -0.40%, while the sector itself fell by 1.35%.

Investor participation appears to be waning, with delivery volume dropping by 31.28% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 3.58 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 Inox Wind, amidst a backdrop of declining stock performance.