Inox Wind Ltd Sees 23.17% Surge in Open Interest to 41,918 Contracts

Inox Wind Ltd, a player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 41,918 contracts, marking a rise of 7,886 contracts or 23.17% from the previous open interest of 34,032. The trading volume for the day reached 41,206 contracts, indicating robust activity in the market.
Despite this surge in open interest, Inox Wind's stock performance has underperformed compared to its sector, with a 1D return of -1.81%, while the sector itself saw a decline of only 0.35%. The stock touched an intraday high of Rs 153.45, reflecting a gain of 3.2%, but also dipped to a low of Rs 144.61, down 2.74%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 30.25 lakh shares on November 14, which is a 45.52% increase compared to the five-day average. Inox Wind is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Overall, the notable rise in open interest highlights increased trading activity, even as the stock faces headwinds in its performance metrics.