Indian Oil Corporation Sees Significant Rise in Open Interest Amid Market Activity

Indian Oil Corporation Ltd (IOC), a prominent player in the Oil Exploration and Refineries sector, has recently experienced a notable increase in open interest (OI). The latest OI stands at 33,427 contracts, reflecting a rise of 3,065 contracts or 10.09% from the previous OI of 30,362. This uptick in OI coincides with a trading volume of 17,590, indicating active market participation.
In terms of price performance, IOC has underperformed its sector by 2.32%, with a 1D return of -1.20%. The stock is currently trading below its 5-day, 100-day, and 200-day moving averages, although it remains above the 20-day and 50-day averages. Additionally, the stock has shown a decline in delivery volume, which has fallen by 32.98% compared to the 5-day average, with a delivery volume of 78.51 lakh shares recorded on March 27.

Despite these fluctuations, IOC maintains a high dividend yield of 5.37% at the current price, and its liquidity remains robust, accommodating trade sizes of Rs 5.58 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Indian Oil Corporation, reflecting ongoing developments in the stock's trading activity.