Surge in Open Interest Signals Increased Trading Activity for National Aluminium Company
National Aluminium Company Ltd has seen a notable rise in open interest, reaching 37,021 contracts, alongside a trading volume of 41,870 contracts. The stock has outperformed its sector and remains above several moving averages, despite a decline in delivery volume. It maintains a strong market presence with a significant dividend yield.
National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 37,021 contracts, up from the previous figure of 31,620, marking a change of 5,401 contracts or a 17.08% increase. The trading volume for the day reached 41,870 contracts, indicating robust market engagement.In terms of price performance, National Aluminium Company has outperformed its sector by 3.74%, with the stock gaining 4.9% over the last two days. Today, it opened with a gain of 4.54% and reached an intraday high of Rs 192, reflecting a 5.64% increase. The weighted average price suggests that more volume was traded closer to the low price, while the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average.
Despite a decline in delivery volume by 44.86% compared to the 5-day average, the stock maintains a high dividend yield of 5.51% at the current price. With a market capitalization of Rs 34,137.48 crore, National Aluminium Company continues to demonstrate its position within the non-ferrous metals industry. Overall, the notable increase in open interest highlights a dynamic trading environment for the stock.
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