Jindal Steel Ltd. Sees 11.54% Surge in Open Interest Amid Increased Futures Activity

Jindal Steel Ltd., 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 29,245 contracts, up from the previous 26,220, marking a change of 3,025 contracts or an 11.54% increase. The trading volume for the day reached 22,444 contracts, contributing to a futures value of approximately Rs 27,810.58 lakhs.
In terms of price performance, Jindal Steel hit a new 52-week high of Rs 1,086.50, representing a 2.02% increase during the trading session. Despite this achievement, the stock underperformed its sector by 0.38%, although it has shown a positive trend over the last four days, gaining 5.33% in that period. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position in the market.

However, it is worth noting a decline in delivery volume, which fell by 3.84% compared to the 5-day average. Overall, Jindal Steel's performance today highlights a notable uptick in trading activity, underscoring the dynamic nature of the market.