Hindalco Industries Sees Surge in Open Interest 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 72,586 contracts, reflecting a rise of 7,766 contracts or 11.98% from the previous open interest of 64,820. This uptick in open interest coincides with a trading volume of 88,106 contracts, indicating active market participation.
In terms of price performance, Hindalco has outperformed its sector by 0.4%, with the stock gaining 2.06% over the last two days. Today, it reached an intraday high of Rs 669.7, marking a 3.01% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.

Despite this positive momentum, there has been a notable decline in delivery volume, which fell by 35.1% compared to the 5-day average, with a delivery volume of 19.1 lakh shares recorded on May 23. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 8.25 crore, based on 2% of the 5-day average traded value. Overall, the developments surrounding Hindalco Industries reflect a dynamic trading environment, characterized by increased open interest and solid price performance metrics.