Jindal Stainless Sees Surge in Open Interest Amid Increased Trading Activity

Jindal Stainless Ltd (JSL), a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 13,303 contracts, marking a rise of 1,510 contracts or 12.8% from the previous open interest of 11,793. This surge coincides with a trading volume of 8,377 contracts, indicating robust market engagement.
In terms of price performance, Jindal Stainless has outperformed its sector by 1.78%, recovering from two consecutive days of decline. The stock reached an intraday high of Rs 669.5, representing a gain of 3.47% for the day. Notably, the stock's performance is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

Additionally, the stock has seen a notable increase in delivery volume, with 304,000 shares delivered on May 28, reflecting an 18.89% rise compared to the 5-day average. With a market capitalization of Rs 54,928.96 crore, Jindal Stainless continues to demonstrate liquidity suitable for trading activities. Overall, the increase in open interest and positive price movements highlight a dynamic trading environment for Jindal Stainless.