Rail Vikas Nigam Sees Significant Surge in Open Interest Amid Increased Trading Activity
Rail Vikas Nigam Ltd (RVNL) has seen a notable rise in open interest, reaching 7,343 contracts, alongside a trading volume of 15,787 contracts. The stock has outperformed its sector, achieving an intraday high of Rs 423.9, while maintaining significant liquidity and a substantial market capitalization of Rs 88,436.13 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 7,343 contracts, marking a notable rise of 2,502 contracts or 51.68% from the previous open interest of 4,841. This surge in open interest coincides with a trading volume of 15,787 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Rail Vikas Nigam has outperformed its sector by 3.99%, reaching an intraday high of Rs 423.9, which reflects a gain of 4.99% for the day. The stock's weighted average price suggests that more volume was traded closer to its lower price points. Additionally, while the stock is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below its 200-day moving average.
Despite a decline in delivery volume by 30.07% compared to the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 7.94 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 88,436.13 crore, Rail Vikas Nigam continues to be a significant entity in the construction sector. The increase in open interest today highlights a shift in market dynamics, reflecting the ongoing interest in the stock.
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