Oil India Ltd. Sees 13.9% Surge in Open Interest, Reaching 15,608 Contracts
Oil India Ltd. has seen a significant rise in open interest, reaching 15,608 contracts, alongside a trading volume of 14,333 contracts, indicating increased market activity. The stock has gained 2.45% over two days and is trading above key moving averages, despite a decline in delivery volume.
Oil India Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 15,608 contracts, up from the previous figure of 13,703, marking a change of 1,905 contracts or a 13.9% increase. This surge in open interest comes alongside a trading volume of 14,333 contracts, indicating robust market engagement.In terms of price performance, Oil India has shown resilience, gaining 2.45% over the past two days. The stock reached an intraday high of Rs 449.5, representing 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 positive trend in its price trajectory.
Despite this upward movement, there has been a 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's market capitalization is approximately Rs 72,449 crore, placing it within the mid-cap segment of the oil industry. Overall, the increase in open interest and the stock's performance metrics highlight a significant day for Oil India Ltd.
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