Jindal Steel Ltd. Sees 10.4% Surge in Open Interest Amid Increased Trading Activity
Jindal Steel Ltd. has seen a notable rise in open interest, reaching 31,885 contracts, alongside a trading volume of 25,452 contracts today. The stock is trading near its 52-week high, with increased delivery volume indicating heightened investor participation, despite a slight underperformance compared to its sector.
Jindal Steel Ltd. (symbol: JINDALSTEL), 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 31,885 contracts, marking a rise of 3,004 contracts or 10.4% from the previous open interest of 28,881. The trading volume for the day reached 25,452 contracts, contributing to a futures value of approximately Rs 30,828.88 lakhs.In terms of price performance, Jindal Steel is currently trading close to its 52-week high, just 3.5% away from Rs 1,087.6. However, the stock has underperformed its sector by 1.28% today, with a 1-day return of -2.23%. The stock touched an intraday low of Rs 1,043.7, reflecting a decline of 3.05%. Despite this, Jindal Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over the longer term.
Additionally, the stock has seen a notable increase in delivery volume, which rose by 35.55% compared to the 5-day average, suggesting a rise in investor participation. Overall, the increase in open interest and trading volume highlights a dynamic trading environment for Jindal Steel Ltd.
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