Hindustan Zinc Sees 16.52% Surge in Open Interest to 55,597 Contracts

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 55,597 contracts, reflecting a rise of 7,882 contracts or 16.52% from the previous open interest of 47,715. The trading volume for the day reached 49,628 contracts, indicating robust activity in the market.
In terms of price performance, Hindustan Zinc has outperformed its sector by 0.32%, despite a recent trend reversal after two consecutive days of gains. The stock touched an intraday low of Rs 488.7, marking a decline of 4.6%. Notably, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong underlying trend.

Additionally, the delivery volume on October 9 surged to 51.47 lakh shares, a remarkable increase of 128.65% compared to the 5-day average delivery volume. With a market capitalization of Rs 2,08,984 crore, Hindustan Zinc remains a liquid stock, suitable for trades of up to Rs 7.86 crore based on 2% of the 5-day average traded value. Overall, the notable spurt in open interest highlights increased market activity surrounding Hindustan Zinc.