Jindal Steel Ltd. Sees 13.79% Surge in Open Interest Amid Increased Trading Activity

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 35,325 contracts, reflecting a rise of 4,280 contracts or 13.79% from the previous open interest of 31,045. This uptick in open interest comes alongside a trading volume of 28,254 contracts, indicating active participation in the market.
In terms of price performance, Jindal Steel has underperformed its sector by 1.91%, with the stock recording a 1D return of -2.18%. Over the past two days, the stock has seen a consecutive decline, totaling a drop of 4.06%. The intraday low reached today was Rs 1,029.9, marking a decrease of 2.46% from the previous close.

Despite these challenges, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages. Notably, the delivery volume has surged to 10.8 lakh shares, up by 43.76% compared to the 5-day average, suggesting a notable rise in investor participation.

In summary, Jindal Steel Ltd. is witnessing a marked increase in open interest amid a challenging trading environment, reflecting the dynamic nature of its market activity.