GAIL (India) Ltd Sees 13.94% Surge in Open Interest, Reaching 56,901 Contracts

GAIL (India) Ltd, a prominent player in the gas industry, has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 56,901 contracts, marking a rise of 6,960 contracts or 13.94% from the previous open interest of 49,941. This surge coincides with a trading volume of 40,121 contracts, indicating robust participation in the market.
In terms of performance, GAIL has outperformed its sector by 0.47% today, with a modest stock return of 0.29%. Over the past two days, the stock has shown a consecutive gain, accumulating a total return of 1.45%. Notably, GAIL's current price is above its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains below the 100-day moving average.

Despite a decline in delivery volume by 21.18% compared to the 5-day average, GAIL maintains a high dividend yield of 4.17% and demonstrates sufficient liquidity for trading activities. With a market capitalization of Rs 1,18,746.30 crore, GAIL continues to solidify its position in the gas sector. The notable increase in open interest today underscores the stock's active trading environment.