Surge in Open Interest Signals Increased Trading Activity for National Aluminium Company

National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 32,953 contracts, up from the previous open interest of 28,678 contracts, marking a change of 4,275 contracts or a 14.91% increase. The trading volume for the day reached 20,622 contracts, indicating robust participation in the market.
In terms of price performance, National Aluminium has faced a slight decline, with a 1-day return of -0.25%, while the sector and Sensex reported returns of -0.58% and -0.63%, respectively. The stock has been on a downward trend, losing 2.53% over the past two days. Despite this, it remains above its 100-day moving average, although it is trading lower than its 5-day, 20-day, 50-day, and 200-day moving averages.

The company, operating in the Non-Ferrous Metals industry, has a market capitalization of Rs 34,014 crore and offers a high dividend yield of 5.39%. With a liquidity level sufficient for trades of Rs 1.43 crore based on 2% of the 5-day average traded value, National Aluminium continues to be a notable player in its sector. Overall, the increase in open interest highlights a shift in market dynamics for the stock.