HFCL Ltd Sees 21.18% Surge in Open Interest Amidst Price Decline

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.
In terms of overall market performance, HFCL has underperformed its sector by 0.62%, with a 1-day return of -0.83%. The stock has been on a downward trend, experiencing consecutive declines over the past two days, resulting in a total drop of 4.08%. Currently, HFCL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.

Despite these challenges, there has been a notable increase in delivery volume, which reached 65.14 lakh shares on October 30, marking an 83.21% rise compared to the 5-day average. The stock's liquidity remains adequate for trading, with a market cap of Rs 10,682.99 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for HFCL Ltd.