Surge in Open Interest Signals Increased Trading Activity for National Aluminium Company

National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 39,667 contracts, marking an increase of 8,047 contracts or 25.45% from the previous open interest of 31,620. The trading volume for the day reached 88,176 contracts, indicating robust market engagement.
In terms of price performance, National Aluminium Company has outperformed its sector by 3.41%, with the stock gaining 2.93% over the last two days. Today, it opened with a notable gain of 4.54%, reaching an intraday high of Rs 192, which represents a 5.64% increase. The weighted average price suggests that more volume was traded closer to the low price, while the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average.

Despite a decline in delivery volume by 44.86% compared to the 5-day average, the stock maintains a high dividend yield of 5.51% at the current price. With a market capitalization of Rs 33,893.20 crore, National Aluminium Company continues to demonstrate its position in the non-ferrous metals industry. Overall, the notable increase in open interest highlights a shift in trading dynamics for the stock.