Steel Authority of India Ltd. Sees 15.39% Surge in Open Interest Amid Increased Trading Activity
Steel Authority of India Ltd. (SAIL) has seen a notable rise in open interest, reaching 72,183 contracts amid increased trading activity. The stock achieved a new 52-week high, reflecting a strong bullish trend, and has significantly outperformed its sector, indicating robust market engagement and interest in the company.
Steel Authority of India Ltd. (SAIL) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 72,183 contracts, up from the previous figure of 62,554, marking a change of 9,629 contracts or a 15.39% increase. The trading volume for the day reached 37,615 contracts, indicating robust market engagement.In terms of price performance, SAIL hit a new 52-week high of Rs. 143.27, representing an intraday gain of 8.41%. Over the past four days, the stock has shown a consistent upward trend, accumulating a total return of 10.25%. Notably, SAIL has outperformed its sector by 5.77% today, while the broader market, as represented by the Sensex, saw a modest gain of 0.42%.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong bullish trend. Additionally, the delivery volume surged to 3.2 crore shares on October 28, reflecting a 625.6% increase compared to the 5-day average. With a market capitalization of Rs 58,013 crore, SAIL remains a key player in the ferrous metals industry. Overall, the notable rise in open interest and strong price performance underscores the stock's active trading environment.
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