Rail Vikas Nigam Sees Surge in Open Interest Amid Active Market Participation
Rail Vikas Nigam Ltd (RVNL) has seen a notable rise in open interest, reaching 22,447 contracts, alongside a trading volume of 9,422 contracts. The stock has shown resilience, gaining 1.31% over two days, while maintaining liquidity for trades. RVNL's market capitalization stands at Rs 80,116.90 crore.
Rail Vikas Nigam Ltd (RVNL), a prominent player in the construction industry, has experienced a significant increase in open interest today. The latest open interest stands at 22,447 contracts, reflecting a rise of 2,558 contracts or 12.86% from the previous open interest of 19,889. This uptick in open interest comes alongside a trading volume of 9,422 contracts, indicating active market participation.In terms of price performance, RVNL has shown resilience, gaining 1.31% over the last two days. The stock reached an intraday high of Rs 391.45, marking a 2.39% increase during the session. Currently, the stock's price is higher than its 5-day and 100-day moving averages, although it remains below the 20-day, 50-day, and 200-day moving averages.
Despite a decline in delivery volume, which fell by 26.22% compared to the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 2.84 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 80,116.90 crore, Rail Vikas Nigam continues to be a significant entity in the construction sector. The notable increase in open interest highlights the ongoing activity surrounding the stock, reflecting current market dynamics.
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