Surge in Open Interest Signals Increased Market Activity for Hindustan Petroleum

Hindustan Petroleum Corporation Ltd. (HINDPETRO) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 39,906, up from the previous figure of 35,648, marking a change of 4,258, or an 11.94% increase. This surge in open interest coincides with a trading volume of 16,608, indicating robust market engagement.
In terms of performance, Hindustan Petroleum has outperformed its sector by 0.91% today, with a 1.52% return over the day. The stock has shown consistent gains over the past two days, accumulating a total return of 3.28% during this period. Notably, Hindustan Petroleum is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

The stock also boasts a high dividend yield of 4.04% at the current price, and its liquidity remains favorable, with a trading capacity sufficient for a trade size of Rs 1.42 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and positive performance metrics highlight the current dynamics surrounding Hindustan Petroleum Corporation Ltd.