NMDC Sees Significant Open Interest Surge Amid Mixed Trading Trends
NMDC Ltd has seen a notable rise in open interest, reaching 33,357 contracts, alongside a trading volume of 14,588 contracts, indicating increased market activity. Despite underperforming its sector, the company maintains a high dividend yield and a significant market capitalization, reflecting a dynamic trading environment.
NMDC Ltd, a prominent player in the Minerals & Mining industry, has experienced a significant increase in open interest today. The latest open interest stands at 33,357 contracts, reflecting a rise of 3,047 contracts or 10.05% from the previous open interest of 30,310. This uptick in open interest comes alongside a trading volume of 14,588 contracts, indicating heightened activity in the stock.In terms of price performance, NMDC has underperformed its sector by 2.36%, with the stock reaching an intraday low of Rs 67.57, down 3.47% from the previous close. The weighted average price suggests that more volume was traded closer to this low price. While the stock is currently above its 100-day moving average, it remains below the 5-day, 20-day, 50-day, and 200-day moving averages, indicating mixed short-term trends.
Additionally, NMDC boasts a high dividend yield of 4% at the current price, although delivery volume has seen a decline of 37.85% compared to the 5-day average. With a market capitalization of Rs 59,757.98 crore, NMDC continues to maintain a liquid trading environment, suitable for transactions of up to Rs 2.77 crore. Overall, the notable increase in open interest highlights a shift in market dynamics for NMDC, warranting attention from market participants.
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