Hindalco Industries Sees Significant Open Interest Surge Amid Active Market Engagement
Hindalco Industries Ltd has seen a notable increase in open interest, reaching 66,673 contracts, alongside a trading volume of 56,385 contracts. The stock is performing well above its moving averages and has recorded a significant rise in delivery volume, indicating strong market 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 66,673 contracts, reflecting a rise of 7,830 contracts or 13.31% from the previous open interest of 58,843. This uptick in open interest coincides with a trading volume of 56,385 contracts, indicating active participation in the market.In terms of overall market performance, Hindalco is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust position relative to its recent price trends. The stock has recorded a 1.68% return today, outperforming the sector's return of 1.52% and the Sensex's return of 0.43%.
Additionally, the stock's delivery volume has seen a notable increase, with 43.32 lakh shares delivered on August 22, marking a 30.35% rise compared to the 5-day average delivery volume. With a market capitalization of Rs 1,60,901.42 crore, Hindalco remains a liquid asset, suitable for trades up to Rs 7.99 crore based on 2% of the 5-day average traded value.
In summary, the notable rise in open interest and strong trading metrics highlight Hindalco's active market engagement today.
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