Surge in Open Interest Signals Increased Trading Activity for Hindalco Industries
Hindalco Industries Ltd has seen a notable rise in open interest, reaching 68,508 contracts, alongside a trading volume of 52,139 contracts. The stock has outperformed its sector and the Sensex, trading above multiple moving averages, while delivery volume has surged significantly, indicating increased 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 68,508 contracts, reflecting a notable rise of 10,854 contracts or 18.83% from the previous open interest of 57,654. This surge in open interest comes alongside a trading volume of 52,139 contracts, indicating heightened activity in the stock.In terms of performance, Hindalco has shown resilience, gaining 3.05% over the last two days, with a 1.83% return today, outperforming the sector's 1.62% return while the Sensex declined by 0.60%. 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.
Additionally, the delivery volume has seen a remarkable increase, with 50.94 lakh shares delivered on June 20, marking a 107.56% rise compared to the 5-day average. With a market capitalization of Rs 1,48,541.67 crore, Hindalco remains a liquid stock, suitable for trades of Rs 6.03 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading activity highlights a dynamic trading environment for Hindalco Industries.
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