Jindal Stainless Sees Surge in Open Interest Amid Active Market Participation
Jindal Stainless Ltd has seen a notable rise in open interest, reaching 15,514 contracts, alongside a trading volume of 7,399 contracts. The stock has outperformed its sector for six consecutive days, achieving a total return of 13.1%. Despite a decline in delivery volume, liquidity remains adequate.
Jindal Stainless Ltd (JSL), a prominent player in the Steel/Sponge Iron/Pig Iron industry, has experienced a significant increase in open interest today. The latest open interest stands at 15,514 contracts, reflecting a rise of 1,851 contracts or 13.55% from the previous open interest of 13,663. This uptick in open interest coincides with a trading volume of 7,399 contracts, indicating active participation in the market.In terms of performance, Jindal Stainless has outperformed its sector by 0.54% today, marking its sixth consecutive day of gains with a total return of 13.1% over this period. The stock reached an intraday high of Rs 584.25, representing a 2.62% increase for the day. While the stock is currently above its 5-day moving average, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages.
Despite a decline in delivery volume, which fell by 26.37% compared to the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 0.98 crore. With a market capitalization of Rs 47,861.01 crore, Jindal Stainless continues to be a significant entity in the steel sector. The notable increase in open interest highlights the ongoing activity surrounding the stock, reflecting current market dynamics.
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