Hindustan Copper Sees Significant Open Interest Surge Amid Active Market Participation

Hindustan Copper Ltd, a prominent player in the non-ferrous metal industry, has experienced a significant increase in open interest today. The latest open interest stands at 18,790 contracts, reflecting a rise of 1,835 contracts or 10.82% from the previous open interest of 16,955. The trading volume for the day reached 6,634 contracts, indicating active participation in the market.
In terms of price performance, Hindustan Copper has underperformed its sector, with a decline of 0.16% compared to a 3.16% gain in the broader metal sector. The stock touched an intraday high of Rs 229.19, marking a 2.57% increase during the trading session. Despite this, it remains below several key moving averages, including the 5-day, 50-day, 100-day, and 200-day averages, while being higher than the 20-day moving average.

The overall market capitalization of Hindustan Copper is approximately Rs 22,000 crore, categorizing it as a large-cap stock. The liquidity remains robust, with a delivery volume of 54.72 lakh shares, which is 16.82% higher than the 5-day average delivery volume. This notable spurt in open interest highlights the evolving dynamics surrounding Hindustan Copper in the current market landscape.