National Aluminium Company Sees 12.03% Surge in Open Interest Amid Increased Trading Activity

National Aluminium Company Ltd (NATIONALUM) has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 43,755 contracts, up from the previous figure of 39,056, marking a change of 4,699 contracts or a 12.03% increase. The trading volume for the day reached 36,197 contracts, contributing to a total futures value of approximately Rs 130,098.92 lakhs.
In terms of price performance, National Aluminium has underperformed its sector by 0.3%, with the stock declining by 1.19% over the last two days. Today, it touched an intraday low of Rs 233.31, reflecting a 2% drop. Despite this, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.

Investor participation has seen a decline, with delivery volume falling by 22.8% compared to the 5-day average. The stock offers a high dividend yield of 4.41% at its current price, and with a market capitalization of Rs 43,767 crore, it remains a mid-cap player in the non-ferrous metals industry. Overall, the increase in open interest indicates a shift in market dynamics for National Aluminium Company, amidst a backdrop of fluctuating stock performance.