Jindal Stainless Sees Surge in Open Interest Amid Increased Trading Activity
Jindal Stainless Ltd has seen a notable rise in open interest, reaching 9,044 contracts, alongside a trading volume of 10,427 contracts. The stock's price performance showed fluctuations, with a significant drop in delivery volume. Despite this, it remains above key moving averages, indicating active market engagement.
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 9,044 contracts, up from the previous 7,651 contracts, marking a change of 1,393 contracts or an 18.21% increase. This surge coincides with a trading volume of 10,427 contracts, indicating robust market engagement.In terms of price performance, Jindal Stainless outperformed its sector by 2.15%, reaching an intraday high of Rs 741, which represents a 2.12% increase. However, the stock also saw a low of Rs 702.15, reflecting a decline of 3.24%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.
Despite a notable drop in delivery volume, which fell by 60.98% against the five-day average, Jindal Stainless continues to trade above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. With a market capitalization of Rs 59,303 crore, the stock remains liquid enough for trades of Rs 1.76 crore based on 2% of the five-day average traded value. Overall, the increase in open interest highlights a dynamic trading environment for Jindal Stainless.
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