Oil India Ltd. Sees 11.59% Surge in Open Interest, Reaching 18,009 Contracts
Oil India Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 18,009 contracts. The stock outperformed its sector and reached an intraday high, although investor participation has declined significantly. The company maintains a mid-cap status in the oil industry.
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 18,009 contracts, up from the previous figure of 16,138, marking a change of 1,871 contracts or an 11.59% increase. The trading volume for the day reached 17,685 contracts, contributing to a total futures value of approximately Rs 29,635.27 lakhs.In terms of price performance, Oil India Ltd. outperformed its sector by 1.23%, with the stock reaching an intraday high of Rs 423, reflecting a gain of 3.11% for the day. The stock is currently positioned above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Despite this positive price movement, there has been a notable decline in investor participation, with delivery volume dropping by 57.07% compared to the 5-day average. The stock maintains a market capitalization of Rs 68,301 crore, categorizing it as a mid-cap entity within the oil industry. Overall, the increase in open interest alongside the stock's performance metrics highlights a dynamic trading environment for Oil India Ltd.
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