Hindustan Zinc Sees Significant Open Interest Surge Amid Increased Trading Activity

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 24,744 contracts, reflecting a rise of 4,837 contracts or 24.3% from the previous open interest of 19,907. This surge coincides with a trading volume of 70,356 contracts, indicating heightened activity in the stock.
In terms of price performance, Hindustan Zinc opened with a gain of 2.03% and reached an intraday high of Rs 510.9, marking a 3.93% increase during the trading session. Despite this positive movement, the stock has underperformed its sector by 0.26%. Over the past two days, Hindustan Zinc has shown a consecutive gain, accumulating returns of 8.22%.

The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory. Additionally, the company boasts a high dividend yield of 3.86% at the current price, further enhancing its appeal in the market. Overall, the notable increase in open interest reflects a dynamic trading environment for Hindustan Zinc, underscoring its active participation in the market.