Surge in Open Interest for National Aluminium Signals Increased Derivatives Market Activity
National Aluminium Company Ltd has seen a notable rise in open interest, indicating increased activity in the derivatives market, with current open interest at 25,962 contracts. The stock has shown mixed performance, trading above several moving averages but below the 200-day average, while maintaining a strong dividend yield.
National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 25,962 contracts, up from the previous 23,073 contracts, marking a change of 2,889 contracts or a 12.52% increase. This surge in open interest coincides with a trading volume of 18,902 contracts, indicating robust participation in the stock's futures market.In terms of price performance, National Aluminium Company has underperformed its sector by 1.33%, with the stock reaching an intraday high of Rs 197.6, representing a 2.07% increase. The stock's current price is positioned above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Notably, the stock boasts a high dividend yield of 5.17% at the current price, and liquidity remains strong, with a trading capacity sufficient for a trade size of Rs 2.93 crore.
In summary, the notable rise in open interest for National Aluminium Company today highlights increased trading activity, while the stock's performance metrics reflect its current market standing within the non-ferrous metals industry.
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