Hindalco Industries Sees Significant Open Interest Surge Amid Active Market Participation

Hindalco Industries Ltd, a prominent player in the Non-Ferrous Metals sector, has experienced a significant increase in open interest today. The latest open interest stands at 52,624 contracts, reflecting a rise of 4,972 contracts or 10.43% from the previous open interest of 47,652. This uptick in open interest is accompanied by a trading volume of 22,547 contracts, indicating active participation in the market.
In terms of price performance, Hindalco's stock has shown a slight decline, with a 1D return of -2.11%, compared to the sector's return of -1.94% and the Sensex's return of -0.25%. The stock reached an intraday low of Rs 634.5, marking a decrease of 2.38%. Notably, the stock is currently trading above its 100-day moving average but below its 5-day, 20-day, 50-day, and 200-day moving averages.

With a market capitalization of Rs 1,42,991.02 crore, Hindalco remains a large-cap entity in the industry. The liquidity of the stock is adequate, with a delivery volume of 25.82 lakh shares on May 29, which has increased by 0.05% against the 5-day average delivery volume. Overall, the notable rise in open interest highlights a shift in market dynamics for Hindalco Industries.