Surge in Open Interest Signals Increased Market Activity for Power Grid Corporation
Power Grid Corporation of India Ltd has seen a notable rise in open interest in the derivatives market, reaching 65,893 contracts. This increase coincides with a trading volume of 25,134 contracts. Despite recent price declines, the company maintains a strong dividend yield and adequate liquidity for trading.
Power Grid Corporation of India Ltd (POWERGRID) has experienced a significant increase in open interest (OI) today, reflecting notable activity in the derivatives market. The latest OI stands at 65,893 contracts, up from the previous OI of 59,159 contracts, marking a change of 6,734 contracts or an 11.38% increase. This uptick in OI comes alongside a trading volume of 25,134 contracts, indicating heightened trading activity.In terms of price performance, Power Grid Corporation has been facing challenges, with the stock recording a decline of 1.91% over the past two days. Today, it has shown a slight decrease of 0.35%, aligning closely with the sector's performance, which fell by 0.45%. The stock has been trading within a narrow range of Rs 2.75 and is currently below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Despite the recent price declines, Power Grid Corporation maintains a high dividend yield of 3.13% at the current price level. The liquidity remains adequate for trading, with a delivery volume of 51.9 lakh shares, although this represents a 9.45% decrease compared to the 5-day average. Overall, the increase in open interest highlights a shift in market dynamics for Power Grid Corporation of India Ltd amidst its recent price performance.
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