Oil India Ltd. Sees 11.23% Surge in Open Interest Amid Increased Trading Activity
Oil India Ltd. has seen a significant rise in open interest, reaching 13,074 contracts, alongside a trading volume of 10,453 contracts, indicating increased market activity. Despite a recent gain, the stock has underperformed its sector and experienced a decline in investor participation, though it retains adequate liquidity.
Oil India Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 13,074 contracts, up from the previous 11,754, marking a change of 1,320 contracts or an increase of 11.23%. The trading volume for the day reached 10,453 contracts, indicating robust participation in the market.In terms of price performance, Oil India Ltd. has underperformed its sector by 0.27%, despite achieving a 2.2% gain over the last three days. The stock reached an intraday high of Rs 428.45, reflecting a 2.21% increase during the session. Currently, the stock is trading above its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains below the 100-day moving average.
Investor participation has seen a decline, with delivery volume dropping by 20.23% compared to the 5-day average. However, the stock maintains sufficient liquidity for trades, with a market cap of Rs 69,001 crore, classifying it as a mid-cap stock. Overall, the increase in open interest suggests a significant shift in trading dynamics for Oil India Ltd.
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