Jindal Steel & Power Sees Surge in Open Interest Amid Increased Trading Activity
Jindal Steel & Power Ltd has seen a notable rise in open interest, reaching 49,765 contracts, alongside a trading volume of 26,105 contracts, indicating increased market activity. The stock has outperformed its sector and shows positive trends, with favorable liquidity and a significant market capitalization.
Jindal Steel & Power 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 49,765 contracts, marking an increase of 4,959 contracts or 11.07% from the previous open interest of 44,806. This surge in open interest coincides with a trading volume of 26,105 contracts, indicating robust market engagement.In terms of performance, Jindal Steel & Power has outperformed its sector by 1.17%, with a 1.22% return on the day. The stock has shown a positive trend over the last two days, accumulating a total return of 2.66%. While the stock is currently trading above its 5-day and 100-day moving averages, it remains below its 20-day, 50-day, and 200-day moving averages.
Additionally, the stock's liquidity appears favorable, with a delivery volume of 10.37 lakh shares on June 20, reflecting a 16.86% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 91,788 crore, Jindal Steel & Power continues to maintain a strong position in the market. Overall, the notable rise in open interest and trading volume underscores the active engagement surrounding the stock today.
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