GAIL (India) Ltd Sees 11.29% Surge in Open Interest to 55,578 Contracts
GAIL (India) Ltd has seen a notable rise in open interest, indicating increased trading activity. The stock has outperformed its sector and is trading above various moving averages, despite a decline in delivery volume. With a market capitalization of Rs 1,19,068.48 crore, it maintains a strong dividend yield.
GAIL (India) Ltd, a prominent player in the gas industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 55,578, up from the previous figure of 49,941, marking a change of 5,637, or an 11.29% increase. The trading volume for the day reached 28,182, contributing to a total futures value of approximately Rs 82,667 lakhs and an options value of around Rs 81,257 crores, culminating in a total value of Rs 84,174 lakhs.In terms of performance, GAIL (India) has outperformed its sector by 0.48% and has shown a consecutive gain over the last two days, with a total return of 1.7% during this period. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. However, it is noteworthy that the delivery volume has decreased by 21.18% compared to the 5-day average, suggesting a decline in investor participation.
With a market capitalization of Rs 1,19,068.48 crore, GAIL (India) continues to maintain a high dividend yield of 4.17%. Overall, the notable increase in open interest today highlights the stock's active trading environment, while its performance metrics reflect a solid position within the gas industry.
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