Hindustan Zinc Ltd Sees 10.85% Surge in Open Interest Amid Price Decline

Hindustan Zinc 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 72,648 contracts, reflecting a rise of 7,110 contracts or 10.85% from the previous open interest of 65,538. This uptick comes alongside a trading volume of 62,544 contracts, indicating active participation in the market.
Despite this surge in open interest, Hindustan Zinc's stock has underperformed its sector by 0.59%, with a notable decline of 5.61% over the past three days. The stock reached an intraday low of Rs 481.4, marking a decrease of 3.77% during the trading session. The weighted average price suggests that more volume was traded closer to this low price point.

In terms of moving averages, the stock remains above the 20-day, 50-day, 100-day, and 200-day moving averages, yet it is below the 5-day moving average. The broader Non-Ferrous Metals sector has also seen a decline of 2.41%. Notably, delivery volume has increased by 2.91% against the five-day average, indicating a rise in investor participation. Overall, the developments in open interest and trading activity highlight a dynamic trading environment for Hindustan Zinc.