Hindustan Zinc Sees 11.42% 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 73,025 contracts, reflecting a rise of 7,487 contracts or 11.42% from the previous open interest of 65,538. This uptick coincides with a trading volume of 79,562 contracts, indicating heightened activity in the stock.
In terms of price performance, Hindustan Zinc has underperformed its sector by 0.53%, with the stock recording a decline of 2.81% on the day. Over the past three days, the stock has faced consecutive losses, totaling a drop of 5.33%. The intraday low reached was Rs 481.4, marking a decrease of 3.77% from the previous close. Despite this, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.

The overall market cap of Hindustan Zinc is approximately Rs 2,05,435.01 crore, categorizing it as a large-cap stock. The recent rise in open interest, coupled with the trading volume, suggests a notable shift in market dynamics, warranting attention from market participants.