HFCL Ltd Sees 21.18% Surge in Open Interest Amid Increased Trading Activity
HFCL Ltd has seen a notable rise in open interest, reaching 41,255 contracts, alongside a trading volume of 25,868 contracts, indicating increased activity in the derivatives market. Despite this, the stock has underperformed, experiencing consecutive losses and trading below key moving averages, while delivery volume has significantly increased.
HFCL Ltd, a small-cap player in the Telecom Equipment & Accessories industry, has experienced a significant increase in open interest today. The latest open interest stands at 41,255 contracts, reflecting a rise of 7,212 contracts or 21.18% from the previous open interest of 34,043. This surge in open interest comes alongside a trading volume of 25,868 contracts, indicating heightened activity in the derivatives market.Despite this notable uptick in open interest, HFCL's stock has underperformed its sector, with a decline of 0.86% today. Over the past two days, the stock has faced consecutive losses, totaling a drop of 4.11%. Currently, HFCL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging price environment.
Additionally, the stock has seen a notable increase in delivery volume, with 65.14 lakh shares delivered on October 30, marking an 83.21% rise compared to the 5-day average delivery volume. With a market capitalization of Rs 10,682.99 crore, HFCL remains a liquid option for trades sized at Rs 1.79 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 its recent price challenges.
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