GAIL (India) Ltd Sees 10.66% Surge in Open Interest Amid Increased Trading Activity
GAIL (India) Ltd has seen a significant rise in open interest, reaching 54,872 contracts, indicating increased trading activity. The stock's delivery volume surged, reflecting heightened investor participation. Despite a slight decline in stock price, GAIL maintains a strong market capitalization and a high dividend yield, showcasing its market position.
GAIL (India) Ltd, a prominent player in the gas industry, has experienced a notable increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 54,872 contracts, marking a significant rise of 5,286 contracts or 10.66% from the previous open interest of 49,586. The trading volume for the day reached 23,441 contracts, contributing to a futures value of approximately Rs 72,242.89 lakhs.In terms of price performance, GAIL's stock has shown a slight decline of 0.72% today, which contrasts with the sector's average decline of 0.58%. Despite this dip, the stock remains above its 5-day, 20-day, 50-day, and 200-day moving averages, although it is below the 100-day moving average. The stock's delivery volume surged to 1.19 crore on October 24, reflecting a 141.5% increase compared to the 5-day average delivery volume, indicating rising investor participation.
With a market capitalization of Rs 1,18,161.12 crore, GAIL maintains a high dividend yield of 4.14%, underscoring its position in the market. Overall, the increase in open interest alongside the stock's performance metrics highlights a dynamic trading environment for GAIL (India) Ltd.
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