HFCL Ltd Sees Significant Surge in Open Interest Amidst Market Activity

HFCL Ltd, a mid-cap player in the Telecom Equipment & Accessories industry, has experienced a notable increase in open interest today. The latest open interest stands at 24,040 contracts, reflecting a rise of 2,196 contracts or 10.05% from the previous open interest of 21,844. This surge in open interest comes alongside a trading volume of 11,936 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, HFCL has faced challenges recently, with the stock recording a decline of 3.92% over the past two days. Today, it reached an intraday low of Rs 77.15, down 2.65%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Despite these challenges, there has been a notable increase in delivery volume, which rose by 67.7% compared to the 5-day average, reaching 34.14 lakh shares. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 1.06 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest for HFCL highlights a significant shift in market dynamics, warranting close observation.