Rail Vikas Nigam Sees Surge in Open Interest Amid Increased Trading Activity
Rail Vikas Nigam Ltd (RVNL) has seen a notable rise in open interest, reaching 15,349 contracts amid increased trading activity. The stock has shown resilience, trading above key moving averages and maintaining a strong market capitalization of Rs 89,896 crore, despite a decline in delivery volume.
Rail Vikas Nigam Ltd (RVNL), a prominent player in the construction industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 15,349 contracts, up from the previous 13,105, marking a change of 2,244 contracts or a 17.12% increase. This surge coincides with a trading volume of 22,131 contracts, indicating robust market engagement.In terms of price performance, Rail Vikas Nigam has shown resilience, gaining 1.21% today, which is in line with the sector's return of 1.02%. The stock reached an intraday high of Rs 442.8, representing a 3.3% increase. Notably, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend reversal after two consecutive days of decline.
Despite a decline in delivery volume by 24.07% compared to the 5-day average, the stock remains liquid, with a trade size capacity of Rs 14.65 crore based on 2% of the 5-day average traded value. With a market capitalization of Rs 89,896 crore, Rail Vikas Nigam continues to maintain a strong position in the construction sector. The notable increase in open interest today underscores the stock's active trading environment.
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