Hero MotoCorp Sees 11.19% Surge in Open Interest Amid Increased Futures Activity
Hero MotoCorp Ltd. has recently experienced a notable increase in open interest (OI), signaling heightened activity in its futures market. The latest OI stands at 47,435 contracts, up from the previous OI of 42,662 contracts, marking a change of 4,773 contracts or an increase of 11.19%. The trading volume for the stock reached 28,596 contracts, contributing to a total futures value of approximately Rs 28,741.82 lakhs.
In terms of price performance, Hero MotoCorp has underperformed its sector by 1.05%, with the stock experiencing a decline of 3.26% over the last three days. The stock touched an intraday low of Rs 4,196, reflecting a decrease of 2.63%. The weighted average price indicates that more volume was traded closer to this low price. While the stock remains above its 20-day, 50-day, and 100-day moving averages, it is currently below its 5-day and 200-day moving averages.
Additionally, the stock has shown a significant rise in delivery volume, increasing by 136.36% compared to the five-day average. With a market capitalization of Rs 84,408.63 crore, Hero MotoCorp continues to maintain a high dividend yield of 3.25%. Overall, the increase in open interest highlights a shift in trading dynamics for the company within the automobile sector.
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