NCC Ltd Sees Surge in Open Interest Amid Ongoing Stock Performance Challenges

NCC Ltd, a mid-cap player in the construction industry, has experienced a notable increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 10,103 contracts, reflecting a rise of 1,012 contracts or 11.13% from the previous open interest of 9,091. The trading volume for the day reached 4,038 contracts, contributing to a total futures value of approximately Rs 6,873.73 lakhs.
Despite this surge in open interest, NCC Ltd's stock performance has underperformed its sector, showing a decline of 1.54% today, compared to a sector return of -0.37%. The stock has been on a downward trend, falling for the last two consecutive days with a total return of -2.4% during this period. It touched an intraday low of Rs 231.05, down 2.27% from the previous close.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 10.53 lakhs on May 29, although this represents a decline of 19.25% against the five-day average. Overall, while NCC Ltd shows increased open interest, its recent stock performance indicates challenges in maintaining upward momentum.