Hindustan Copper Sees Significant Open Interest Surge Amid Market Volatility

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 25,509 contracts, marking a notable rise of 6,213 contracts or 32.2% from the previous open interest of 19,296. This surge coincides with a trading volume of 39,400 contracts, reflecting heightened activity in the market.
In terms of price performance, Hindustan Copper has faced challenges, underperforming its sector by 1.57%. The stock has been on a downward trend, losing 7.44% over the past five days. Today, it reached an intraday high of Rs 282, representing a 3.01% increase, while the intraday low was recorded at Rs 260.3, a decline of 4.91%. The weighted average price indicates that more volume was traded closer to the lower end of the price range, contributing to a high intraday volatility of 5.22%.

Despite these fluctuations, the stock 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 Hindustan Copper is Rs 25,418.23 crore, maintaining its status as a large-cap entity in the sector. The increase in open interest amidst these price movements highlights a notable shift in market dynamics.