Hindustan Petroleum Sees 10.6% Surge in Open Interest Amid Increased Futures Activity

Hindustan Petroleum Corporation Ltd. (HINDPETRO) has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 42,371 contracts, up from the previous 38,310 contracts, marking a change of 4,061 contracts or a 10.6% increase. This surge in open interest comes alongside a trading volume of 22,412 contracts, indicating robust participation in the market.
In terms of price performance, Hindustan Petroleum has shown a slight 1D return of 0.02%, which is relatively in line with the sector's performance, as the sector recorded a 1D return of -0.10%. However, the stock has faced a consecutive decline over the past two days, with a total drop of 0.6% during this period. Despite these fluctuations, Hindustan Petroleum is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a stable position in the market.

The company's market capitalization is approximately Rs 90,134.56 crore, categorizing it as a mid-cap stock. Overall, the increase in open interest alongside the current trading metrics highlights a significant moment for Hindustan Petroleum in the oil industry.