Power Grid Corporation Sees Surge in Open Interest Amid Increased Derivatives Activity
Power Grid Corporation of India Ltd has seen a notable rise in open interest, reaching 92,897 contracts, alongside a trading volume of 46,856 contracts. Despite a slight decline in stock price, the company maintains a strong market capitalization and high dividend yield, indicating active market engagement.
Power Grid Corporation of India Ltd (POWERGRID) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 92,897 contracts, marking an increase of 11,289 contracts or 13.83% from the previous open interest of 81,608. The trading volume for the day reached 46,856 contracts, contributing to a total futures value of approximately Rs 1,22,832.50 lakhs.In terms of price performance, Power Grid has faced a decline of 1.03% today, which is in line with the broader sector's performance, as the sector index fell by 0.79%. The stock has been on a downward trend, recording losses for the past two days, with a total decline of 1.56% during this period. Despite this, the stock remains above its 100-day moving average but below its shorter-term moving averages, indicating mixed momentum.
With a market capitalization of Rs 2,73,112 crore, Power Grid Corporation continues to maintain a high dividend yield of 3.51%. The liquidity of the stock is also notable, with a delivery volume of 1.07 crore shares on May 26, reflecting a 9.33% increase compared to the five-day average. Overall, the increase in open interest suggests a notable shift in market dynamics for Power Grid Corporation of India.
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