GAIL (India) Ltd Sees Significant Open Interest Surge Amid Market Activity Shift
GAIL (India) Ltd has seen a notable rise in open interest, reaching 72,080 contracts, alongside a trading volume of 42,961 contracts, indicating increased activity in the derivatives market. The stock, categorized as large-cap with a market capitalization of approximately Rs 1,27,721 crore, also features a high dividend yield of 3.33%.
GAIL (India) Ltd, a prominent player in the gas transmission and marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 72,080 contracts, reflecting a rise of 8,421 contracts or 13.23% from the previous open interest of 63,659. This uptick in open interest coincides with a trading volume of 42,961 contracts, indicating heightened activity in the derivatives market.In terms of price performance, GAIL has underperformed its sector by 1.34%, with a one-day return of -0.83%. The stock has recently seen a trend reversal, having declined after five consecutive days of gains. Currently, GAIL's price is above its 5-day, 20-day, 50-day, and 100-day moving averages, yet it remains below the 200-day moving average.
Additionally, the stock boasts a high dividend yield of 3.33% at the current price, and liquidity remains robust, with a delivery volume of 1.71 crore on April 21, reflecting a 96.58% increase compared to the 5-day average. GAIL's market capitalization is approximately Rs 1,27,721 crore, categorizing it as a large-cap stock. Overall, the notable increase in open interest highlights a shift in market dynamics for GAIL (India) Ltd.
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