Open interest is the total number of outstanding contracts that are held by market participants at the end of each day. Open interest measures the total level of activity into the futures market, or any other derivative market; for an underlying asset, like Nifty or similar indices or F&O stocks. The quotes given above show us on
September 23, 2022 | Nifty futures has an open Interest of 1,40,75,700.
It is important to understand that number of long futures, as well as number of short futures, is 1,40,75,700. This is because total number of long futures will always be equal to total number of short futures.
Only a single side of contracts is considered while calculating/ mentioning open interest.
On September 22, 2022, the open interest in Nifty futures was 1,37,14,850.
This means that there is an increase of 360850 in the open interest on September 23, 2022 from September 22, 2022. The level of open interest helps in indicating the depth in the market.