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 39,999 contracts, marking a notable rise of 8,379 contracts or 26.5% from the previous open interest of 31,620. This surge coincides with a trading volume of 59,275 contracts, indicating robust market engagement.
In terms of price performance, National Aluminium has outperformed its sector by 2.56%, with the stock gaining 3.26% over the last two days. Today, it opened with a 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 33,992.38 crore, National Aluminium continues to demonstrate liquidity suitable for trades around Rs 1.97 crore. Overall, the increase in open interest highlights a notable shift in trading dynamics for National Aluminium Company.