Surge in Open Interest for National Aluminium Signals Increased Trading Activity Amidst Bearish Trends
National Aluminium Company Ltd has seen a notable rise in open interest, reaching 28,058 contracts, alongside a trading volume of 16,296 contracts. Despite this increase, the stock has been on a downward trend, trading below key moving averages, while maintaining strong liquidity and a high dividend yield.
National Aluminium Company Ltd (NATIONALUM) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 28,058 contracts, up from the previous 25,100, marking a change of 2,958 contracts or an 11.78% increase. The trading volume for the day reached 16,296 contracts, contributing to a total futures value of approximately Rs 32,310.43 lakhs.Despite this uptick in open interest, the stock has been on a downward trend, having lost 5.34% over the past four days. Today, it reported a 1D return of -0.86%, while the sector overall declined by 1.30%. National Aluminium is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment in the short to medium term.
The stock's liquidity remains robust, with a delivery volume of 88.55 lakhs on March 27, reflecting a 13.94% increase compared to the 5-day average. Additionally, it boasts a high dividend yield of 5.59% at the current price. Overall, the notable rise in open interest amidst a challenging performance context highlights the dynamic nature of trading in National Aluminium Company Ltd.
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