Surge in Open Interest Signals Increased Market Activity for Hindustan Petroleum

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 44,665 contracts, up from the previous figure of 40,283, marking a change of 4,382 contracts or a percentage increase of 10.88%. This surge in open interest comes alongside a trading volume of 18,426 contracts, indicating a robust engagement from market participants.
In terms of price performance, Hindustan Petroleum has underperformed its sector by 0.48%, with a one-day return of -1.41%. The stock has been on a downward trend, having fallen for three consecutive days, resulting in a cumulative decline of 2.28%. Currently, the stock is trading below its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains above the 200-day moving average.

Investor participation appears to be waning, as evidenced by a significant drop in delivery volume, which has decreased by 72.61% compared to the 5-day average. Despite these challenges, the stock maintains sufficient liquidity for trades sized at Rs 2.56 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Hindustan Petroleum, amidst a backdrop of declining stock performance.