Hindustan Zinc Sees Surge in Open Interest Amid Market Fluctuations

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 10,762 contracts, reflecting a rise of 1,109 contracts or 11.49% from the previous open interest of 9,653. The trading volume for the day reached 4,615, indicating active participation in the market.
In terms of price performance, Hindustan Zinc has underperformed its sector by 0.32%, with the stock falling after a streak of seven consecutive gains. The stock touched an intraday low of Rs 454.1, marking a decline of 2.29%. Despite this dip, the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average.

The broader Non-Ferrous Metals sector has also seen a decline of 2.11%. Notably, the stock boasts a high dividend yield of 4.09% at the current price, and liquidity remains robust, with a delivery volume of 17.29 lakh shares, which is 79.27% higher than the 5-day average. Overall, the notable increase in open interest highlights a shift in market dynamics for Hindustan Zinc, amidst a backdrop of fluctuating stock performance.