HFCL Ltd Sees Significant Open Interest Surge Amid Ongoing Stock Decline
HFCL Ltd has reported a notable rise in open interest, reaching 37,119 contracts, alongside a trading volume of 32,401 contracts. Despite this increase, the stock has underperformed, declining over the past two days and showing mixed performance against various moving averages. Liquidity remains strong with elevated delivery volumes.
HFCL Ltd, a mid-cap player in the Telecom Equipment & Accessories industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 37,119 contracts, reflecting a rise of 4,699 contracts or 14.49% from the previous OI of 32,420. This uptick in OI comes alongside a trading volume of 32,401 contracts, indicating heightened activity in the stock.Despite this surge in open interest, HFCL's stock has underperformed its sector, declining by 1.56% today. Over the past two days, the stock has seen a consecutive fall, resulting in a total decline of 5.35%. The stock reached an intraday low of Rs 83, marking a decrease of 3.53% from its previous close.
In terms of moving averages, HFCL's stock is currently above the 20-day and 50-day moving averages but below the 5-day, 100-day, and 200-day averages. The stock's liquidity remains robust, with a delivery volume of 1.2 crore on May 20, which is 28.9% higher than the 5-day average delivery volume.
In summary, while HFCL Ltd has seen a notable increase in open interest, the stock's recent performance reflects challenges in the market.
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