National Aluminium Company Sees 12.03% Surge in Open Interest to 43,755 Contracts

National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 43,755 contracts, up from the previous 39,056 contracts, 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, the stock has been under pressure, having fallen by 1.21% over the last two days. Today, it touched an intraday low of Rs 233.31, representing a 2% decline. Despite this recent downturn, 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 appears to be declining, with a delivery volume of 36.42 lakh shares on October 30, down 22.8% compared to the 5-day average. The stock offers a high dividend yield of 4.41% at the current price, and with a market capitalization of Rs 43,216 crore, it is categorized as a mid-cap stock in the non-ferrous metals industry. Overall, the increase in open interest amidst a challenging price environment highlights the evolving dynamics surrounding National Aluminium Company Ltd.