Bharat Petroleum Sees 16.9% Surge in Open Interest Amid Increased Futures Activity
Bharat Petroleum Corporation Ltd (BPCL) has seen a notable rise in open interest, reaching 34,755 contracts, alongside a trading volume of 54,093 contracts. The stock has outperformed its sector, reversing a decline with a significant gain, while maintaining a strong dividend yield and market capitalization.
Bharat Petroleum Corporation Ltd (BPCL) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 34,755 contracts, marking a rise of 5,025 contracts or 16.9% from the previous open interest of 29,730. The trading volume for the day reached 54,093 contracts, contributing to a futures value of approximately Rs 60,296 lakhs.In terms of price performance, BPCL has outperformed its sector by 2.68%, reversing a three-day decline with a notable gain of 3.14% today. The stock touched an intraday high of Rs 338.5, representing a 4.36% increase. Additionally, BPCL is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its price trajectory.
Despite a decline in delivery volume, which fell by 14.72% against the 5-day average, BPCL maintains a high dividend yield of 3.08% at the current price. With a market capitalization of Rs 1,45,144.70 crore, BPCL continues to demonstrate liquidity suitable for trading sizes of Rs 4.24 crore. Overall, the increase in open interest and positive price movements highlight a notable shift in market dynamics for BPCL.
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