Surge in Open Interest for Oil India Ltd. Signals Shift in Trading Dynamics

Apr 24 2025 01:00 PM IST
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Oil India Ltd. has seen a notable rise in open interest, reaching 29,415 contracts, alongside a trading volume of 12,773 contracts. Despite this activity, the stock underperformed its sector and experienced a decline in delivery volume. The company maintains a market capitalization of Rs 65,560.43 crore and a dividend yield of 3.07%.
Oil India Ltd. has experienced a significant increase in open interest today, reflecting notable activity in its trading. The latest open interest stands at 29,415 contracts, up from the previous 21,776 contracts, marking a change of 7,639 contracts or a 35.08% increase. The trading volume for the day reached 12,773 contracts, contributing to a futures value of approximately Rs 44,419.19 lakhs.

Despite this surge in open interest, Oil India Ltd. underperformed its sector by 0.75%, with a stock price decline of 0.93% on the day. The stock touched an intraday low of Rs 397.2, representing a decrease of 2.37%. While the stock remains above its 5-day, 20-day, and 50-day moving averages, it is currently below its 100-day and 200-day moving averages, indicating mixed performance trends.

Additionally, the stock has seen a decline in delivery volume, which fell by 18.62% compared to the 5-day average. With a market capitalization of Rs 65,560.43 crore, Oil India Ltd. continues to maintain a high dividend yield of 3.07%. Overall, the increase in open interest highlights a shift in trading dynamics, even as the stock faces some downward pressure in the market.
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