Surge in Open Interest Signals Increased Market Activity for National Aluminium Company Ltd

National Aluminium Company Ltd, a prominent player in the Non-Ferrous Metals industry, has experienced a notable increase in open interest today. The latest open interest stands at 31,680 contracts, reflecting a rise of 3,454 contracts or 12.24% from the previous open interest of 28,226. This surge in open interest comes alongside a trading volume of 14,800, indicating active participation in the market.
In terms of financial metrics, the stock's performance today aligns with the sector, with a 1-day return of -0.86%, mirroring the sector's performance. The stock is currently trading above its 50-day and 100-day moving averages, although it remains below the 5-day, 20-day, and 200-day moving averages. Notably, the stock boasts a high dividend yield of 5.27% at the current price, which may appeal to income-focused investors.

Despite a slight decline in delivery volume, which has decreased by 2.42% against the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 2.61 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for National Aluminium Company Ltd, reflecting ongoing developments in its trading activity.