Steel Authority of India Sees Surge in Open Interest Amid Increased Trading Activity
Steel Authority of India Ltd. (SAIL) has seen a notable rise in open interest and trading volume, indicating increased market activity. The stock has outperformed its sector and has gained consistently over six days. Additionally, delivery volumes have risen, reflecting strong liquidity in the market.
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 69,050 contracts, up from the previous 56,394 contracts, marking a notable change of 12,656 contracts or 22.44%. The trading volume for the day reached 62,879 contracts, contributing to a total futures value of approximately Rs 154,491.04 lakhs.In terms of price performance, SAIL has outperformed its sector by 1.91%, with the stock gaining for six consecutive days, resulting in a total return of 11.44% over this period. Today, the stock touched 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 reached 1.04 crore shares, a rise of 15.25% compared to the 5-day average delivery volume, indicating robust liquidity. With a market capitalization of Rs 48,669.98 crore, SAIL continues to maintain a strong position in the steel industry. Overall, the increase in open interest and trading volume underscores a dynamic trading environment for Steel Authority of India Ltd.
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