Jindal Steel Ltd. Sees 10.39% Surge in Open Interest, Reaching 45,598 Contracts
Jindal Steel Ltd. has seen a notable rise in open interest, reaching 45,598 contracts, alongside a trading volume of 28,213 contracts. The stock is trading near its 52-week high, with a market capitalization of Rs 1,09,007 crore, indicating active market engagement despite a slight decline in price performance.
Jindal Steel Ltd., a prominent player in the Ferrous Metals industry, has experienced a significant increase in open interest today. The latest open interest stands at 45,598 contracts, reflecting a rise of 4,291 contracts or 10.39% from the previous open interest of 41,307. This uptick comes alongside a trading volume of 28,213 contracts, indicating active market participation.In terms of price performance, Jindal Steel is currently trading close to its 52-week high, just 2.89% away from the peak of Rs 1,098. However, the stock has underperformed its sector by 0.66% today, with a 1D return of -1.17%. The stock reached an intraday low of Rs 1,057.2, marking a decline of 2.11% during the trading session.
Despite this, Jindal Steel maintains a solid market capitalization of Rs 1,09,007 crore, categorizing it as a large-cap stock. The stock's liquidity remains adequate for trading, with a delivery volume of 3.13 lakh shares on November 17, although this figure has decreased by 22.75% compared to the five-day average. Overall, the notable increase in open interest highlights a shift in market dynamics for Jindal Steel, warranting attention from market observers.
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