Surge in Open Interest Signals Shifting 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 31,395 contracts, reflecting a rise of 3,169 contracts or 11.23% from the previous open interest of 28,226. This uptick in open interest coincides with a trading volume of 12,180 contracts, indicating active engagement in the market.
In terms of price performance, National Aluminium Company has underperformed its sector by 0.36%, with a one-day return of -1.25%. The stock is currently trading below its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains above the 100-day moving average. The company has a market capitalization of Rs 34,639.00 crore, categorizing it as a large-cap stock.

Additionally, the stock boasts a high dividend yield of 5.27% at the current price, while liquidity remains adequate for trading, with a size of Rs 2.61 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for National Aluminium Company, reflecting changing investor sentiment and trading activity.