Hindalco Industries Sees Significant Surge in Open Interest Amid Increased Trading Activity
Hindalco Industries Ltd has seen a notable rise in open interest, reaching 71,081 contracts, alongside a trading volume of 68,319 contracts, indicating increased market activity. The stock has gained 3% over two days, trading above key moving averages, with a significant rise in delivery volume compared to previous averages.
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 71,081 contracts, marking a notable rise of 13,427 contracts or 23.29% from the previous open interest of 57,654. This surge in open interest coincides with a trading volume of 68,319 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Hindalco has shown resilience, gaining 3% over the last two days, with a current stock price touching an intraday high of Rs 666, reflecting a 2.6% increase. The stock is 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.
Additionally, the delivery volume on June 20 reached 50.94 lakh shares, representing a substantial increase of 107.56% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,45,485 crore, Hindalco remains a liquid stock, suitable for trading sizes around Rs 6.03 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and robust trading metrics highlight the stock's active engagement in the market.
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