GAIL (India) Ltd Sees 13.09% Surge in Open Interest to 56,132 Contracts
GAIL (India) Ltd has seen a notable rise in open interest, reaching 56,132 contracts, alongside a trading volume of 28,250 contracts. The stock is performing well above key moving averages and has a high delivery volume, reflecting strong market activity despite a slight decline in one-day returns.
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 56,132 contracts, up from the previous 49,634 contracts, marking a change of 6,498 contracts or a 13.09% increase. The trading volume for the day reached 28,250 contracts, contributing to a total futures value of approximately Rs 83,721.75 lakhs.In terms of price performance, GAIL (India) is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position relative to these benchmarks. The stock's delivery volume on October 29 was notably high at 88.09 lakhs, reflecting an increase of 82.02% compared to the 5-day average delivery volume. GAIL also boasts a high dividend yield of 4.06% at the current price, further enhancing its appeal in the market.
Despite a slight decline of 0.48% in its one-day return, GAIL (India) continues to maintain a robust market capitalization of Rs 1,20,817.46 crores, solidifying its status as a large-cap entity in the gas sector. The increase in open interest today underscores the active trading environment surrounding the stock.
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