Hindustan Petroleum Sees Surge in Open Interest Amid Strong Market Activity

Hindustan Petroleum Corporation Ltd. (HINDPETRO) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 46,755 contracts, up from the previous 39,383 contracts, marking a change of 7,372 contracts or an 18.72% increase. This surge coincides with a trading volume of 65,799 contracts, indicating robust market engagement.
In terms of price performance, Hindustan Petroleum has outperformed its sector by 3.03%, with the stock gaining 3.76% over the last three days. Today, it opened with a notable gain of 4.9%, reaching an intraday high of Rs 414.8, which represents a 5.48% increase from the previous close. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Despite a decline in delivery volume, which fell by 17.24% against the 5-day average, the stock maintains a high dividend yield of 4.2% at the current price. With a market capitalization of Rs 86,112.98 crore, Hindustan Petroleum continues to demonstrate solid liquidity, supporting trade sizes of Rs 3.46 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and positive price movements highlight the stock's current market dynamics.