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 figures at 19,699 contracts. The stock has outperformed its sector and reached an intraday high of Rs 452.60, although investor participation has declined, as reflected in reduced delivery volume.
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 19,699 contracts, up from the previous figure of 17,106, marking a change of 2,593 contracts or a 15.16% increase. The trading volume for the day reached 21,834 contracts, contributing to a futures value of approximately Rs 24,596.75 lakhs and an options value of Rs 11,780.70 crores, bringing the total value to Rs 27,916.19 lakhs.In terms of price performance, Oil India has outperformed its sector by 3.22%, with the stock gaining 4.31% over the last four days. Today, it reached an intraday high of Rs 452.60, reflecting a 3.83% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is worth noting a decline in investor participation, with delivery volume falling by 36.36% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of Rs 4.28 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and solid price performance underscores the current activity surrounding Oil India Ltd.
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