Hindustan Petroleum Sees Surge in Open Interest Amidst Active Market Participation
Hindustan Petroleum Corporation Ltd. has seen a notable rise in open interest, reaching 36,731 contracts, alongside a trading volume of 33,354 contracts, indicating heightened market activity. Despite this, the stock has underperformed its sector and is currently positioned below certain moving averages, while maintaining a strong dividend yield.
Hindustan Petroleum Corporation Ltd. (HINDPETRO) has experienced a significant increase in open interest today, with the latest open interest recorded at 36,731 contracts, up from the previous 31,451 contracts. This marks a change of 5,280 contracts, reflecting a percentage increase of 16.79%. The trading volume for the day stands at 33,354 contracts, indicating active participation in the market.In terms of price performance, Hindustan Petroleum's stock has underperformed the sector by 4.54%, reaching an intraday low of Rs 393.6, which represents a decline of 5.12%. The weighted average price suggests that more volume was traded closer to this low price. While the stock is currently above its 50-day, 100-day, and 200-day moving averages, it remains below the 5-day and 20-day moving averages.
Additionally, the stock boasts a high dividend yield of 3.98% at the current price, and liquidity remains robust, with a trade size of Rs 2.76 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest highlights increased trading activity in Hindustan Petroleum, amidst a challenging market environment.
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