HFCL Ltd Sees 10.49% Surge in Open Interest Amid Increased Trading Activity

HFCL Ltd, a small-cap player in the Telecom Equipment & Accessories industry, has experienced a notable increase in open interest today. The latest open interest stands at 26,038 contracts, reflecting a rise of 2,472 contracts or 10.49% from the previous open interest of 23,566. This uptick in open interest coincides with a trading volume of 11,133 contracts, indicating active participation in the market.
In terms of price performance, HFCL has underperformed its sector by 0.88%, with the stock reaching an intraday low of Rs 72.3, down 2.39%. 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. Notably, the delivery volume on September 29 was 66.59 lakh shares, which represents a significant increase of 37.89% compared to the 5-day average delivery volume.

With a market capitalization of Rs 10,689 crore, HFCL continues to be a liquid stock, suitable for trades up to Rs 3.03 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for HFCL, amidst a challenging trading environment.