BHEL Sees 10.99% Surge in Open Interest Amid Increased Trading Activity
Bharat Heavy Electricals Ltd. (BHEL) has seen a notable rise in open interest, reaching 45,896 contracts, alongside a trading volume of 48,365 contracts. The stock has outperformed its sector and is trading above key moving averages, indicating strong market engagement and a robust presence in the heavy electrical equipment industry.
Bharat Heavy Electricals Ltd. (BHEL) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 45,896 contracts, up from the previous 41,352, marking a change of 4,544 contracts or a 10.99% increase. This surge coincides with a trading volume of 48,365 contracts, indicating robust market engagement.In terms of price performance, BHEL has outperformed its sector by 4.31%, with the stock gaining 11.91% over the last four days. Today, it opened with a gain of 3.51% and reached an intraday high of Rs 258.5, reflecting a 5.34% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume on October 29 was recorded at 57.13 lakh shares, a notable increase of 113.91% compared to the 5-day average. With a market capitalization of Rs 87,034 crore, BHEL remains a significant player in the heavy electrical equipment industry. Overall, the increase in open interest and strong trading metrics highlight the stock's active market presence.
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