Power Grid Corporation Sees 22.6% Surge in Open Interest to 72,609 Contracts

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 72,609 contracts, marking a substantial rise of 13,384 contracts or 22.6% from the previous OI of 59,225. This uptick coincides with a trading volume of 34,855 contracts, indicating heightened market engagement.
In terms of price performance, Power Grid has underperformed its sector, with a decline of 0.09% today, while the sector itself saw a modest gain of 0.62%. Over the past three days, the stock has faced consecutive losses, totaling a decline of 3.82%. Currently, Power Grid is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Despite these challenges, the stock maintains a high dividend yield of 3.15% at its current price, and liquidity remains adequate for trading, with a market cap of Rs 2,62,277.03 crore. The increase in open interest may indicate a shift in market dynamics, warranting close observation of future developments.