Surge in Open Interest Signals Increased Trading Activity for Oil India Ltd.
Oil India Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current open interest at 16,455 contracts. The stock is trading in line with its sector but shows mixed signals against various moving averages. It has a market capitalization of Rs 66,268 crore and a dividend yield of 3.06%.
Oil India Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 16,455 contracts, up from the previous open interest of 14,947, marking a change of 1,508 contracts or a percentage increase of 10.09%. The trading volume for the day reached 8,765 contracts, contributing to a futures value of approximately Rs 35,540.07 lakhs.In terms of price performance, Oil India Ltd. is currently trading inline with its sector, although it is showing mixed signals in relation to its moving averages. The stock is above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages. Notably, the stock has seen a decline in delivery volume, with a reported 7.22 lakh deliveries on August 22, down 41.33% compared to the 5-day average.
With a market capitalization of Rs 66,268 crore, Oil India Ltd. maintains a high dividend yield of 3.06% at the current price, indicating its position within the mid-cap oil industry. Overall, the increase in open interest today highlights a notable shift in trading dynamics for Oil India Ltd.
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