Steel Authority of India Ltd. Sees 13.66% Surge in Open Interest to 53,011 Contracts
Steel Authority of India Ltd. (SAIL) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 53,011 contracts, up from the previous figure of 46,642, marking a change of 6,369 contracts or a 13.66% increase. This surge coincides with a trading volume of 27,068 contracts, indicating robust market engagement.In terms of price performance, SAIL has outperformed its sector by 1.34%, with the stock reaching an intraday high of Rs 133.95, reflecting a gain of 2.24% for the day. The stock is currently positioned above its 20-day, 50-day, 100-day, and 200-day moving averages, although it remains below its 5-day moving average. Notably, there has been a decline in investor participation, with delivery volume dropping by 61.1% compared to the 5-day average.
With a market capitalization of Rs 54,845.11 crore, SAIL continues to maintain a liquid trading environment, suitable for transactions around Rs 3.16 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading atmosphere for Steel Authority of India Ltd.
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