NBCC (India) Ltd Sees 11.75% Surge in Open Interest to 23,616 Contracts

NBCC (India) Ltd, a small-cap player in the construction industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 23,616 contracts, reflecting a rise of 2,484 contracts or 11.75% from the previous OI of 21,132. This uptick in OI comes alongside a trading volume of 10,637 contracts, indicating heightened activity in the derivatives market.
Despite this surge in OI, the stock has underperformed its sector, recording a decline of 2.09% today. Over the past two days, NBCC has faced consecutive losses, with a total return of -2.94%. The stock reached an intraday low of Rs 109.8, down 2.02% from the previous close.

In terms of moving averages, the stock is currently above its 50-day and 200-day averages but below its 5-day, 20-day, and 100-day averages. Additionally, delivery volume has increased to 27.55 lakh shares on November 12, marking a 12.14% rise compared to the 5-day average. With a market capitalization of Rs 30,308 crore, NBCC remains a liquid stock, suitable for trades around Rs 1.49 crore based on 2% of the 5-day average traded value.

In summary, while the increase in open interest signals a shift in market dynamics, the stock's recent performance reflects ongoing challenges within the broader market context.