BHEL Sees Significant Open Interest Surge Amid Increased Derivatives Market Activity

Bharat Heavy Electricals Ltd. (BHEL), a prominent player in the Heavy Electrical Equipment industry, has experienced a significant increase in open interest today. The latest open interest stands at 40,317 contracts, reflecting a rise of 4,677 contracts or 13.12% from the previous open interest of 35,640. This uptick in open interest coincides with a trading volume of 34,333 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, BHEL has underperformed its sector by 0.85%, with the stock recording a decline of 1.52% over the last two days. The stock reached an intraday low of Rs 259.6, down 2.56% from the previous close. Despite this recent downturn, BHEL is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term positive trend.

Additionally, the stock has shown rising investor participation, with a delivery volume of 59.15 lakh shares on May 29, up by 0.49% compared to the 5-day average. With a market capitalization of Rs 93,058 crore, BHEL remains a liquid stock, suitable for trades of approximately Rs 8.43 crore based on recent trading activity. Overall, the notable increase in open interest highlights a shift in market dynamics for BHEL, warranting attention from market participants.