Hero MotoCorp Sees Surge in Open Interest, Indicating Increased Futures Market Activity
Hero MotoCorp Ltd. has seen a significant rise in open interest, reaching 68,875 contracts, indicating increased activity in its futures market. The trading volume for the day was 68,091 contracts, with a total futures value of approximately Rs 82,517.76 lakhs, reflecting notable market dynamics.
Hero MotoCorp Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 68,875 contracts, reflecting a rise of 6,654 contracts or 10.69% from the previous open interest of 62,221. The trading volume for the day reached 68,091 contracts, contributing to a total futures value of approximately Rs 82,517.76 lakhs.In terms of price performance, Hero MotoCorp opened with a gain of 2.92% and reached an intraday high of Rs 5,519, marking a 3.18% increase. Despite this positive opening, the stock has underperformed its sector by 0.99% and has seen a trend reversal after three consecutive days of gains. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend in the medium to long term.
However, there has been a decline in investor participation, with delivery volume dropping by 45.88% compared to the 5-day average. The stock maintains a high dividend yield of 3.09% at the current price, and liquidity remains sufficient for trades of Rs 10.02 crore based on the average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Hero MotoCorp.
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