Surge in Open Interest Signals Increased Trading Activity for Steel Authority of India Ltd.
Steel Authority of India Ltd. (SAIL) has seen a notable rise in open interest, reaching 66,773 contracts, alongside a trading volume of 50,793 contracts. The stock has outperformed its sector, gaining for six consecutive days, with a significant increase in delivery volume and strong market liquidity.
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 66,773 contracts, marking a rise of 10,379 contracts or 18.4% from the previous open interest of 56,394. The trading volume for the day reached 50,793 contracts, indicating robust participation in the market.In terms of price performance, SAIL has outperformed its sector by 1.72%, with the stock gaining for six consecutive days and achieving a total return of 11.11% during this period. Today, the stock reached an intraday high of Rs 118.63, reflecting a 2.89% increase. The stock's current price is above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Additionally, the delivery volume on March 21 was recorded at 1.04 crore shares, which is a 15.25% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 48,620.41 crore, SAIL continues to demonstrate liquidity suitable for trades of approximately Rs 6.05 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and strong trading metrics highlight the active engagement in SAIL's stock today.
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