Surge in Open Interest Signals Increased Trading Activity for Indian Oil Corporation
Indian Oil Corporation Ltd (IOC) has seen a notable rise in open interest, reaching 42,045 contracts, alongside a trading volume of 39,100 contracts. The stock has outperformed its sector, achieving a 4.33% return today and a total return of 9.43% over three days, with strong liquidity and a high dividend yield.
Indian Oil Corporation Ltd (IOC), a prominent player in the Oil Exploration and Refineries sector, has experienced a significant increase in open interest today. The latest open interest stands at 42,045 contracts, reflecting a rise of 3,914 contracts or 10.26% from the previous open interest of 38,131. The trading volume for the day reached 39,100 contracts, contributing to a total futures value of approximately Rs 40,453 lakhs.In terms of price performance, IOC has outperformed its sector by 2.78%, marking a notable 4.33% return for the day. The stock has shown consistent gains over the past three days, accumulating a total return of 9.43%. Today, IOC reached an intraday high of Rs 149.6, representing a 4.41% 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.
Additionally, the stock boasts a high dividend yield of 4.88% at the current price, and its liquidity remains robust, with a delivery volume of 2.21 crore on May 2, reflecting a 195.94% increase compared to the 5-day average. Overall, the surge in open interest and positive performance metrics underscore the stock's active trading environment.
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