Surge in Open Interest Signals Active Market Dynamics for National Aluminium Company

National Aluminium Company Ltd, a prominent player in the Non-Ferrous Metals industry, has experienced a significant increase in open interest today. The latest open interest stands at 35,298 contracts, reflecting a rise of 3,282 contracts or 10.25% from the previous open interest of 32,016. This uptick in open interest coincides with a trading volume of 20,018 contracts, indicating active market participation.
In terms of price performance, National Aluminium Company reached an intraday high of Rs 192.2, marking a gain of 2.27% for the day. The stock's weighted average price suggests that more volume was traded closer to its lower price levels. Notably, the stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

The broader sector, Aluminium & Aluminium Products, has also seen a positive performance, gaining 2.44%. Despite a decline in delivery volume, which fell by 27.44% against the 5-day average, the stock maintains a high dividend yield of 5.32%. With a market capitalization of Rs 35,548.01 crore, National Aluminium Company continues to be a significant entity in its sector. Overall, the increase in open interest highlights a notable shift in market dynamics for the stock.