Bharat Petroleum's Open Interest Rises 11.26% to 39,196 Contracts
Bharat Petroleum Corporation Ltd (BPCL) has seen a significant rise in open interest, reaching 39,196 contracts, alongside a trading volume of 35,708 contracts. Despite a decline in stock price and a notable drop in delivery volume, BPCL maintains strong liquidity and a substantial market capitalization.
Bharat Petroleum Corporation Ltd (BPCL) has experienced a notable increase in open interest today, reflecting a shift in market dynamics. The latest open interest stands at 39,196 contracts, up from the previous 35,228 contracts, marking a change of 3,968 contracts or an 11.26% increase. The trading volume for the day reached 35,708 contracts, indicating active participation in the market.In terms of price performance, BPCL has underperformed its sector by 1.48%, with the stock experiencing a decline after two consecutive days of gains. The stock touched an intraday low of Rs 330.05, representing a decrease of 2.65%. While BPCL's current price is above its 50-day, 100-day, and 200-day moving averages, it remains below its 5-day and 20-day moving averages, suggesting mixed short-term trends.
Additionally, delivery volume has significantly decreased, with a reported 1.7 lakh shares delivered on October 21, reflecting a 96.96% drop compared to the 5-day average. Despite this, BPCL maintains sufficient liquidity for trades sized at Rs 5.14 crore, supported by a market capitalization of Rs 1,46,251 crore. Overall, the increase in open interest alongside the recent price movements highlights evolving market conditions for BPCL.
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