Surge in Open Interest Signals Increased Market Activity for GAIL (India) Ltd.
GAIL (India) Ltd has seen a significant rise in open interest, reaching 73,193 contracts, alongside a trading volume of 27,825 contracts, indicating increased activity in the derivatives market. The stock is currently priced at Rs 193, with a market capitalization of Rs 1,27,122.98 crore and a dividend yield of 3.36%.
GAIL (India) Ltd, a prominent player in the gas transmission and marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 73,193 contracts, reflecting a rise of 11,574 contracts or 18.78% from the previous open interest of 61,619. This surge coincides with a trading volume of 27,825 contracts, indicating heightened activity in the derivatives market.In terms of price performance, GAIL's stock is currently valued at Rs 193. The stock's performance today aligns closely with its sector, showing a slight decline of 0.08%, while the broader Sensex index fell by 0.33%. Notably, GAIL's moving averages indicate that it is performing better than its 5-day, 20-day, 50-day, and 100-day averages, although it remains below the 200-day moving average.
Despite a notable drop in delivery volume, which has decreased by 62.58% compared to the 5-day average, GAIL maintains a high dividend yield of 3.36%. With a market capitalization of Rs 1,27,122.98 crore, GAIL continues to be a liquid stock, suitable for trades around Rs 5.97 crore based on recent trading activity. Overall, the increase in open interest highlights a notable shift in market dynamics for GAIL (India) Ltd.
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