Jindal Steel Ltd. Sees 11.82% Surge in Open Interest Amid Increased Futures Activity
Jindal Steel Ltd. (symbol: JINDALSTEL), a prominent player in the Ferrous Metals industry, has experienced a notable increase in open interest today. The latest open interest stands at 45,643 contracts, reflecting a rise of 4,825 contracts or 11.82% from the previous open interest of 40,818. This uptick comes alongside a trading volume of 29,151 contracts, indicating active market participation.In terms of financial metrics, Jindal Steel's future value is reported at Rs 68,257.45 lakhs, while the total value, including options, reaches Rs 69,339.91 lakhs. The underlying value of the stock is currently at Rs 1,008.
Despite this increase in open interest, the stock has faced challenges recently, with a consecutive decline over the past two days, resulting in a -0.32% return during this period. The stock's performance today aligns closely with the sector, which saw a -0.09% return, while the broader Sensex declined by -0.61%.
Overall, the rise in open interest for Jindal Steel Ltd. highlights a significant shift in market dynamics, even as the stock grapples with recent downward trends.
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