Inox Wind Sees Surge in Open Interest Amidst Challenging Market Conditions

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 1,842 contracts, reflecting a rise of 206 contracts or 12.59% from the previous open interest of 1,636. This uptick in open interest comes alongside a trading volume of 729 contracts, indicating heightened activity in the stock.
Despite this increase in open interest, Inox Wind's stock performance has underperformed compared to its sector, showing a decline of 3.28% today, while the sector itself fell by 1.67%. The stock reached an intraday low of Rs 158.43, down 2.83% from the previous close. Additionally, Inox Wind is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Investor participation has seen a notable rise, with delivery volume increasing by 49.08% against the 5-day average, totaling 48.31 lakh shares. The stock's liquidity remains robust, accommodating trade sizes of up to Rs 3.69 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Inox Wind, amidst a challenging trading environment.