Hindustan Zinc Ltd Sees 13.21% Surge in Open Interest Amid Market 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 54,016 contracts, reflecting a rise of 6,301 contracts or 13.21% from the previous open interest of 47,715. This uptick comes alongside a trading volume of 35,851 contracts, indicating active market participation.
In terms of price performance, Hindustan Zinc has seen a decline of 3.83% today, with the stock touching an intraday low of Rs 488.7, representing a drop of 4.6%. Despite this downturn, the stock remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term positive trend.

The broader sector, however, has faced challenges, with the Non-Ferrous Metals sector down by 3.37%. Notably, delivery volume surged to 51.47 lakh shares on October 9, marking a 128.65% increase compared to the 5-day average delivery volume, indicating heightened trading activity.

Overall, the notable rise in open interest for Hindustan Zinc highlights a dynamic trading environment, even as the stock navigates recent price fluctuations.