Hindustan Copper Sees Significant Surge in Open Interest Amid Market Activity

Hindustan Copper Ltd, a prominent player in the Non-Ferrous Metals industry, has experienced a significant increase in open interest today. The latest open interest stands at 25,180 contracts, marking a rise of 5,884 contracts or 30.49% from the previous open interest of 19,296. This surge coincides with a trading volume of 36,575 contracts, indicating heightened activity in the market.
In terms of price performance, Hindustan Copper has faced challenges, underperforming its sector by 1.13%. The stock has been on a downward trend, recording a 7.03% decline over the past five days. Today, it reached an intraday high of Rs 282, reflecting a 3.01% increase, while the intraday low was Rs 260.3, representing a decrease of 4.91%. The weighted average price suggests that more volume was traded closer to the lower end of the price range, highlighting the stock's volatility, which was calculated at 5.1% for the day.

Despite the fluctuations, Hindustan Copper remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages. The overall market cap of the company is Rs 25,495.59 crore, maintaining its status as a large-cap entity in the sector. The recent increase in open interest reflects a notable shift in trading dynamics, warranting attention from market participants.