Hindustan Zinc Sees 12.27% Surge in Open Interest Amid Market Challenges

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 73,580 contracts, reflecting a rise of 8,042 contracts or 12.27% from the previous open interest of 65,538. This uptick in open interest comes alongside a trading volume of 69,385 contracts, indicating active participation in the market.
In terms of price performance, Hindustan Zinc has underperformed its sector by 0.44%, with the stock recording a decline of 5.33% over the last three days. Today, the stock reached an intraday low of Rs 481.4, down 3.77%. Despite this, the stock's weighted average price suggests that more volume was traded closer to this low price point.

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 broader Non-Ferrous Metals sector has also seen a decline of 2.47%. Notably, delivery volume has increased by 2.91% against the five-day average, indicating rising investor participation.

In summary, the notable increase in open interest for Hindustan Zinc highlights a shift in market dynamics, even as the stock faces recent price challenges.