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, indicating increased trading activity in the heavy electrical equipment sector. The stock is nearing its 52-week high and has demonstrated strong momentum, outperforming its sector and achieving significant returns over recent days.
Bharat Heavy Electricals Ltd. (BHEL) has experienced a significant increase in open interest today, reflecting heightened trading activity in the heavy electrical equipment sector. 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. The trading volume for the day reached 48,365 contracts, indicating robust market engagement.In terms of price performance, BHEL is currently trading close to its 52-week high, just 4.51% away from Rs 272.1. The stock has shown strong momentum, outperforming its sector by 4.74% and achieving a 6.06% return for the day. Notably, BHEL has been on a winning streak, gaining for four consecutive days with a total increase of 12.74% during this period. The stock opened with a gain of 3.51% today and reached an intraday high of Rs 260.75, reflecting a 6.26% increase.
BHEL's liquidity remains favorable, with a delivery volume of 57.13 lakh shares on October 29, up 113.91% compared to the five-day average. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Overall, the notable rise in open interest and positive price movements highlight BHEL's active market presence.
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