Surge in Open Interest Signals Shift in Market Dynamics for Hindustan Copper

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 27,458 contracts, marking a notable rise of 7,851 contracts or 40.04% from the previous open interest of 19,607. The trading volume for the day reached 30,827 contracts, reflecting robust activity in the market.
In terms of price performance, Hindustan Copper's stock has underperformed its sector by 1.12%, with an intraday low of Rs 227.35, representing a decline of 4.27%. The weighted average price indicates that more volume was traded closer to this low price. While the stock is currently above its 5-day, 20-day, and 50-day moving averages, it remains below the 100-day and 200-day moving averages.

Additionally, the stock has seen a rise in delivery volume, with 52.6 lakh shares delivered on March 24, an increase of 69.74% compared to the 5-day average. With a market capitalization of Rs 22,653 crore, Hindustan Copper continues to maintain liquidity suitable for trades around Rs 4.19 crore. Overall, the surge in open interest highlights a notable shift in market dynamics for Hindustan Copper.