Hindustan Zinc Sees 17.66% Surge in Open Interest to 56,143 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 56,143 contracts, reflecting a notable rise of 8,428 contracts or 17.66% from the previous open interest of 47,715. The trading volume for the day reached 61,197 contracts, indicating robust activity in the market.
In terms of price performance, Hindustan Zinc has shown a decline of 2.96% today, aligning with a broader sector trend where the Non-Ferrous Metals sector has decreased by 2.46%. The stock touched an intraday low of Rs 488.7, marking a drop of 4.6%. Despite this, Hindustan Zinc 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 stock has seen a significant rise in delivery volume, with 51.47 lakh shares delivered on October 9, reflecting an increase of 128.65% compared to the 5-day average. With a market capitalization of Rs 2,10,040.61 crore, Hindustan Zinc remains a liquid asset, suitable for trades of up to Rs 7.86 crore based on recent trading activity. Overall, the increase in open interest and trading volume highlights notable market engagement with Hindustan Zinc amidst current price fluctuations.