Surge in Open Interest Signals Increased Market Activity for Havells India Ltd.
Havells India Ltd. has seen a significant rise in open interest, reaching 41,924 contracts, alongside a trading volume of 18,284 contracts, indicating active market participation. Despite a slight underperformance relative to its sector, the stock remains above certain moving averages while experiencing a decline in delivery volume.
Havells India Ltd., a prominent player in the Electronics & Appliances sector, has experienced a notable increase in open interest today. The latest open interest stands at 41,924 contracts, reflecting a rise of 3,815 contracts or 10.01% from the previous open interest of 38,109. This surge in open interest comes alongside a trading volume of 18,284 contracts, indicating active participation in the market.In terms of price performance, Havells India has underperformed its sector by 0.5%, with a one-day return of 0.24%. The stock is currently trading at an underlying value of Rs 1,569. While it is positioned above the 50-day and 100-day moving averages, it remains below the 5-day, 20-day, and 200-day moving averages, suggesting mixed short-term trends.
Additionally, the stock has seen a decline in delivery volume, which has fallen by 49.46% compared to the 5-day average, with a delivery volume of 3.43 lakh shares recorded on May 26. Despite this, the stock maintains sufficient liquidity for trades sized at Rs 2.66 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Havells India Ltd.
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