Indian Oil Corporation Sees 11.79% Surge in Open Interest Amid Trading Activity
Indian Oil Corporation Ltd (IOC) has seen a significant rise in open interest, reaching 35,737 contracts, alongside a trading volume of 22,436 contracts, indicating increased activity in the derivatives market. Despite recent price underperformance and declining investor participation, IOC maintains a strong market capitalization as a large-cap entity.
Indian Oil Corporation Ltd (IOC), a prominent player in the oil industry, has recently experienced a notable increase in open interest (OI). The latest OI stands at 35,737 contracts, reflecting a rise of 3,769 contracts or 11.79% from the previous OI of 31,968. This surge in OI comes alongside a trading volume of 22,436 contracts, indicating heightened activity in the derivatives market.In terms of price performance, IOC has underperformed its sector, with a 1D return of -0.75%, compared to a sector return of -0.10%. Over the past five days, the stock has been on a downward trend, losing 2.63% in value. Despite this, IOC's current price is above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is below the 5-day moving average.
Investor participation appears to be declining, with a delivery volume of 56.57 lakh shares on September 25, down 1.66% from the five-day average. The stock maintains sufficient liquidity for trading, with a market cap of Rs 2,04,927.41 crore, categorizing it as a large-cap entity. Overall, the increase in open interest highlights a significant shift in market dynamics for Indian Oil Corporation.
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