Steel Authority of India Ltd. Sees Surge in Open Interest Amid Increased Trading Activity
Steel Authority of India Ltd. (SAIL) has seen a notable rise in open interest, reaching 68,118 contracts, alongside a trading volume of 56,605 contracts. The stock has outperformed its sector and has shown consistent gains over six days, with strong investor participation and liquidity in the market.
Steel Authority of India Ltd. (SAIL) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 68,118 contracts, marking a notable rise of 11,724 contracts or 20.79% from the previous open interest of 56,394. The trading volume for the day reached 56,605 contracts, indicating robust participation in the market.In terms of performance, SAIL has outperformed its sector by 1.72%, continuing a positive trend with six consecutive days of gains, accumulating a total return of 11.29% during this period. The stock reached an intraday high of Rs 118.63, reflecting a 2.89% increase for the day. Additionally, SAIL's price is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Investor participation has also seen a rise, with a delivery volume of 1.04 crore on March 21, which is 15.25% higher than the 5-day average delivery volume. The stock's liquidity remains strong, accommodating trade sizes of Rs 6.05 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and solid trading metrics highlight a dynamic trading environment for Steel Authority of India Ltd.
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