GAIL (India) Ltd Sees 11.87% Surge in Open Interest to 55,471 Contracts
GAIL (India) Ltd has seen a notable rise in open interest, reaching 55,471 contracts, indicating increased trading activity. The stock has experienced a slight decline but remains above several moving averages. With a market capitalization of Rs 1,18,430.69 crore, GAIL continues to demonstrate strong market presence and liquidity.
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 55,471 contracts, marking an increase of 5,885 contracts or 11.87% from the previous open interest of 49,586. The trading volume for the day reached 26,087 contracts, contributing to a total futures value of approximately Rs 81,551.75 lakhs.In terms of price performance, GAIL's stock has shown a slight decline of 0.50% today, which contrasts with the sector's average decline of 0.47%. 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. Notably, the stock has seen a surge in delivery volume, with 1.19 crore shares delivered on October 24, representing a 141.5% increase compared to the 5-day average.
With a market capitalization of Rs 1,18,430.69 crore, GAIL maintains a strong position in the market, complemented by a high dividend yield of 4.14%. The liquidity of the stock remains robust, allowing for trades up to Rs 3.03 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest underscores the active trading environment surrounding GAIL (India) Ltd.
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