Hero MotoCorp Sees Surge in Open Interest Amidst Increased Trading Activity
Hero MotoCorp Ltd. has seen a notable rise in open interest, reaching 48,268 contracts, indicating increased trading activity. The stock has underperformed its sector and experienced a decline over three days, yet remains above several moving averages. Delivery volume has surged significantly, reflecting heightened trading interest.
Hero MotoCorp Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 48,268 contracts, marking a rise of 5,606 contracts or 13.14% from the previous open interest of 42,662. The trading volume for the day reached 34,137, contributing to a futures value of approximately Rs 33,566.11 lakhs and an options value of Rs 18,954.69 crore, culminating in a total value of Rs 36,777.50 lakhs.In terms of price performance, Hero MotoCorp has underperformed its sector by 1.05%, with the stock declining for three consecutive days, resulting in a total drop of 3.04%. The stock hit an intraday low of Rs 4,196, reflecting a decrease of 2.63%. Despite this, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is below its 5-day and 200-day moving averages.
Additionally, the stock has shown a notable increase in delivery volume, rising by 136.36% compared to the five-day average, indicating a growing level of trading activity. With a market capitalization of Rs 84,540.64 crore, Hero MotoCorp continues to maintain a high dividend yield of 3.25%. Overall, the increase in open interest highlights a notable shift in trading dynamics for Hero MotoCorp amidst its recent price movements.
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