Inox Wind Ltd Sees 10.57% Rise in Open Interest Amid Declining Stock Performance

Inox Wind Ltd, a player in the Heavy Electrical Equipment sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 47,327 contracts, reflecting a rise of 4,526 contracts or 10.57% from the previous OI of 42,801. This uptick comes alongside a trading volume of 30,951 contracts, indicating heightened activity in the derivatives market.
Despite this surge in OI, Inox Wind's stock has underperformed, showing a decline of 3.37% today, which is worse than the sector's average drop of 1.76%. The stock has been on a downward trend, losing 5.06% over the past two days. It reached an intraday low of Rs 140.8, down 3.63% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 1.05 crore on November 17, marking a significant increase of 357.85% compared to the five-day average. Overall, while the increase in open interest signals active trading, the stock's recent performance indicates ongoing challenges in the market.