Jindal Steel Ltd. Sees 13.51% Surge in Open Interest to 29,763 Contracts
Jindal Steel Ltd. has seen a notable rise in open interest, reaching 29,763 contracts, alongside a trading volume of 27,582 contracts, indicating active participation in the derivatives market. The stock achieved a new 52-week high, reflecting strong upward momentum despite a slight decline in delivery volume.
Jindal Steel Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 29,763 contracts, up from the previous figure of 26,220, marking a change of 3,543 contracts or a 13.51% increase. The trading volume for the day reached 27,582 contracts, indicating robust participation in the stock's futures.In terms of price performance, Jindal Steel hit a new 52-week high of Rs. 1,087.6, representing a 2.12% increase during the trading session. Despite this achievement, the stock underperformed its sector, which saw a gain of 2.16%, and recorded a 1.43% return for the day. Over the past four days, Jindal Steel has shown a positive trend, accumulating a total return of 4.9%.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. However, it is noteworthy that delivery volume has decreased by 3.84% compared to the 5-day average, suggesting a decline in investor participation. Overall, the increase in open interest alongside the stock's recent price movements highlights a dynamic trading environment for Jindal Steel Ltd.
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