Hindustan Petroleum Sees Surge in Open Interest Amid Increased Market Activity

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 54,098 contracts, up from the previous 45,145 contracts, marking a change of 8,953 contracts or a 19.83% increase. The trading volume for the day reached 56,018 contracts, indicating robust participation in the market.
In terms of price performance, Hindustan Petroleum has outperformed its sector by 0.95%, with the stock gaining 1.75% over the last three days. Today, it reached an intraday high of Rs 435.9, reflecting a 2.37% increase, while the intraday low was Rs 416, down by 2.3%. The weighted average price suggests that more volume was traded closer to the lower price point.

Additionally, the stock is currently trading above its 5-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 20-day moving average. With a market capitalization of Rs 89,454 crore, Hindustan Petroleum continues to demonstrate strong liquidity, making it suitable for substantial trade sizes. The company also boasts a high dividend yield of 3.88% at the current price. Overall, the notable rise in open interest and trading volume underscores the stock's active market engagement.