NMDC Ltd Sees Surge in Open Interest, Indicating Increased Market Activity
NMDC Ltd has seen a notable rise in open interest, reaching 42,498 contracts, indicating increased trading activity. The day's trading volume hit 17,328 contracts, with a total futures value of approximately Rs 92,729.70 lakhs. The stock is trading above several moving averages and offers a high dividend yield.
NMDC Ltd, a prominent player in the Minerals & Mining industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 42,498 contracts, up from the previous figure of 37,561, marking a change of 4,937 contracts or a 13.14% increase. The trading volume for the day reached 17,328 contracts, contributing to a total futures value of approximately Rs 92,729.70 lakhs.In terms of price performance, NMDC has outperformed its sector by 1.33%, with a one-day return of 1.83%. The stock is currently trading above its 5-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 20-day moving average. Notably, the stock has a high dividend yield of 4.05% at the current price, indicating a solid return for shareholders.
Despite a decline in delivery volume, which fell by 33.41% against the 5-day average, NMDC maintains sufficient liquidity for trades sized at Rs 2.13 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for NMDC Ltd.
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