HFCL Ltd Sees Surge in Open Interest Amidst Price Declines and Increased Investor Participation
HFCL Ltd has seen a notable rise in open interest, indicating increased trading activity, with current figures at 36,007 contracts. Despite this, the stock has underperformed its sector and experienced a decline over the past two days. Delivery volume has increased, suggesting heightened investor participation.
HFCL Ltd, a mid-cap player in the Telecom Equipment & Accessories sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 36,007 contracts, up from the previous 32,420, marking a change of 3,587 contracts or an 11.06% increase. The trading volume for the day reached 21,185 contracts, contributing to a futures value of approximately Rs 26,252.51 lakhs.Despite this surge in open interest, HFCL's stock has underperformed its sector by 2.88%, with a 1D return of -2.12%. The stock has been on a downward trend, losing 6.4% over the past two days. Today, it touched an intraday low of Rs 83.02, reflecting a decline of 3.51%. The weighted average price indicates that more volume was traded closer to this low price.
In terms of moving averages, the stock is currently above its 20-day and 50-day averages but below its 5-day, 100-day, and 200-day averages. Notably, delivery volume has increased by 28.9% compared to the 5-day average, suggesting a rise in investor participation. Overall, HFCL's current trading dynamics highlight a complex interplay of increased open interest amid recent price declines.
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