Hindustan Petroleum Sees Surge in Open Interest Amid Increased Futures Market Activity
Hindustan Petroleum Corporation Ltd. has seen a notable rise in open interest, indicating increased activity in its futures market. The stock has outperformed its sector, achieving significant gains over recent days and maintaining strong liquidity. Despite a drop in delivery volume, it continues to offer a high dividend yield.
Hindustan Petroleum Corporation Ltd. (HINDPETRO) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 38,091 contracts, up from the previous 32,555, marking a change of 5,536 contracts or a 17.01% increase. The trading volume for the day reached 53,471 contracts, contributing to a total futures value of approximately Rs 91,883 lakhs.In terms of price performance, Hindustan Petroleum has outperformed its sector by 5.9%, with the stock gaining 8.63% over the last two days. Today, it reached an intraday high of Rs 414, reflecting a 7.52% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Despite a decline in delivery volume by 14.87% compared to the 5-day average, the stock maintains a high dividend yield of 4.29% at the current price. With a market capitalization of Rs 87,432.23 crore, Hindustan Petroleum continues to demonstrate robust liquidity, suitable for trades around Rs 1.21 crore. Overall, the notable rise in open interest underscores the active trading environment surrounding Hindustan Petroleum.
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