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 9,169 contracts, up from the previous 8,146 contracts, marking a change of 1,023 contracts or a 12.56% increase. This surge in open interest coincides with a trading volume of 3,350 contracts, indicating robust market engagement.
In terms of performance, Jindal Stainless has outperformed its sector by 0.68% today, with a 1D return of 0.79%. The stock has shown consistent gains over the past two days, accumulating a total return of 3.92% during this period. Notably, Jindal Stainless is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Additionally, the stock has seen a notable rise in delivery volume, with 11.44 lakh shares delivered on June 26, reflecting a 127.38% increase compared to the 5-day average. With a market capitalization of Rs 57,626.80 crore, Jindal Stainless continues to demonstrate liquidity suitable for trades of Rs 1.73 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and positive performance metrics highlight Jindal Stainless's active market presence.