Oil India Ltd. Sees 12.62% Surge in Open Interest Amid Increased Trading Activity
Oil India Ltd. has seen a notable rise in open interest, reaching 15,433 contracts, alongside a trading volume of 13,195 contracts, indicating active market participation. The stock has gained 2.65% over two days and is trading above key moving averages, despite a decline in delivery volume.
Oil India Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 15,433 contracts, up from the previous 13,703 contracts, marking a change of 1,730 contracts or a 12.62% increase. This surge in open interest comes alongside a trading volume of 13,195 contracts, indicating robust market engagement.In terms of price performance, Oil India has shown a positive trend, gaining 2.65% over the last two days. The stock reached an intraday high of Rs 449.5, reflecting a 3.11% increase during the trading session. Currently, Oil India is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward momentum in its price trajectory.
Despite this positive performance, there has been a notable decline in delivery volume, which fell by 37.08% compared to the 5-day average, with a delivery volume of 4.06 lakh shares recorded on November 11. The stock maintains a market capitalization of Rs 72,449 crore, positioning it firmly within the mid-cap sector. Overall, the increase in open interest and the stock's performance metrics highlight a dynamic trading environment for Oil India Ltd.
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