Hindalco Industries Sees 12.01% Surge in Open Interest Amid Trading Activity

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 60,997 contracts, reflecting a rise of 6,539 contracts or 12.01% from the previous open interest of 54,458. This uptick coincides with a trading volume of 69,960 contracts, indicating heightened activity in the stock.
In terms of price performance, Hindalco reached a new 52-week high of Rs 790.6, marking a 3.22% increase during the trading session. Despite this achievement, the stock underperformed its sector by 0.33%. Over the past four days, Hindalco has shown a positive trend, gaining 4.84% in returns. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward momentum.

Additionally, the delivery volume on October 1 reached 24.07 lakh shares, a 7.32% increase compared to the 5-day average, indicating rising investor participation. With a market capitalization of Rs 1,75,238.72 crore, Hindalco remains a liquid stock, suitable for trades of approximately Rs 6.59 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and robust trading metrics highlight the stock's active market presence.