Bharat Petroleum Sees Surge in Open Interest Amid Increased Trading Activity

Jan 05 2024 03:36 PM IST
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Bharat Petroleum Corporation Ltd (BPCL) has seen a significant rise in open interest, reaching 65,380 contracts, alongside a trading volume of 49,295 contracts. The stock has outperformed its sector and achieved an intraday high of Rs 264.52, while also maintaining a high dividend yield of 6.05%.
Bharat Petroleum Corporation Ltd (BPCL) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 65,380 contracts, marking a significant rise of 6,248 contracts or 10.57% from the previous open interest of 59,132. The trading volume for BPCL reached 49,295 contracts, contributing to a futures value of approximately Rs 37,199.40 lakhs and an options value of Rs 19,967.28 crore, bringing the total value to Rs 40,666.77 lakhs.

In terms of price performance, BPCL has outperformed its sector by 1.8%, recovering after two consecutive days of decline. The stock reached an intraday high of Rs 264.52, reflecting a gain of 2.95% for the day. While the stock is currently above its 5-day and 20-day moving averages, it remains below the 50-day, 100-day, and 200-day moving averages. Additionally, the stock boasts a high dividend yield of 6.05% at the current price, although delivery volume has seen a decline of 26.83% compared to the 5-day average.

In summary, BPCL's increase in open interest and positive price movement today highlights a shift in trading dynamics, underscoring the stock's current market activity without delving into future implications.
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