Jindal Steel Ltd. Sees 10.08% Surge in Open Interest, Reaching 45,472 Contracts
Jindal Steel Ltd. has seen a significant rise in open interest, reaching 45,472 contracts, alongside a trading volume of 32,095 contracts. The stock is near its 52-week high but has underperformed its sector today. It maintains a strong market capitalization and robust liquidity, despite a decline in delivery volume.
Jindal Steel Ltd., a prominent player in the Ferrous Metals industry, has experienced a notable increase in open interest today. The latest open interest stands at 45,472 contracts, reflecting a rise of 4,165 contracts or 10.08% from the previous open interest of 41,307. This surge coincides with a trading volume of 32,095 contracts, indicating active market participation.In terms of price performance, Jindal Steel is currently trading close to its 52-week high, just 2.73% away from Rs 1,098. However, the stock has underperformed its sector by 0.62% today, with a 1-day return of -1.01%. The stock reached an intraday low of Rs 1,057.2, marking a decline of 2.11%.
Despite these fluctuations, Jindal Steel maintains a strong market capitalization of Rs 1,09,007 crore, categorizing it as a large-cap stock. The stock's liquidity remains robust, with a delivery volume of 3.13 lakh shares on November 17, although this represents a decline of 22.75% compared to the 5-day average delivery volume.
Overall, the increase in open interest alongside the current trading dynamics highlights the ongoing activity surrounding Jindal Steel Ltd. without indicating future trends.
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