Surge in Open Interest Signals Increased 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 25,383 contracts, reflecting a rise of 2,310 contracts or 10.01% from the previous open interest of 23,073. This surge in open interest comes alongside a trading volume of 16,976 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, National Aluminium has underperformed its sector by 0.67% today, with a stock price that has remained stable, showing no change in its one-day return. The stock has been gaining momentum recently, with a 0% return over the last day. Notably, it is trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

The company boasts a market capitalization of Rs 35,555.35 crore, positioning it firmly within the large-cap category. With a high dividend yield of 5.17% and a liquidity level sufficient for trades of Rs 2.93 crore, National Aluminium continues to maintain a solid presence in the market. Overall, the increase in open interest highlights a significant shift in market dynamics for the stock.