Hindalco Industries Sees Surge in Open Interest Amid Sector Challenges

Apr 01 2025 02:00 PM IST
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Hindalco Industries Ltd has reported a notable rise in open interest, reaching 41,537 contracts amid active trading. However, the stock has underperformed, experiencing consecutive losses and a decline today. Despite being above longer-term moving averages, it remains below shorter-term averages, reflecting challenges in the Aluminium sector.
Hindalco Industries Ltd, a prominent player in the Aluminium & Aluminium Products sector, has experienced a significant increase in open interest today. The latest open interest stands at 41,537 contracts, reflecting a rise of 4,337 contracts or 11.66% from the previous open interest of 37,200. This uptick comes amid a trading volume of 36,366 contracts, indicating active participation in the market.

Despite this surge in open interest, Hindalco's stock has underperformed its sector, showing a decline of 0.27% today. Over the past two days, the stock has faced consecutive losses, totaling a drop of 3.9%. The stock reached an intraday low of Rs 663, marking a decrease of 2.85% during the session.

In terms of moving averages, Hindalco's stock is currently above the 50-day, 100-day, and 200-day moving averages, yet it remains below the 5-day and 20-day averages. The Aluminium & Aluminium Products sector overall has also seen a decline of 2.03%. Notably, delivery volume has decreased by 23.59% compared to the 5-day average, indicating a reduction in investor participation.

In summary, while Hindalco Industries has seen a notable increase in open interest, the stock's recent performance reflects broader challenges within the sector.
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