Inox Wind Sees 14.19% Surge in Open Interest Amid Increased Trading Activity

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 38,860 contracts, marking a rise of 4,828 contracts or 14.19% from the previous open interest of 34,032. This uptick in open interest coincides with a trading volume of 27,792 contracts, indicating heightened activity in the derivatives market.
Despite this surge in open interest, Inox Wind's stock has underperformed its sector, showing a 1D return of -1.03%, while the sector itself reported a slight decline of 0.07%. The stock reached an intraday high of Rs 153.45, reflecting a 3.2% increase during the trading session. However, it remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Additionally, the stock's liquidity appears adequate, with a delivery volume of 30.25 lakh shares on November 14, which is up by 45.52% compared to the 5-day average. Overall, the notable rise in open interest for Inox Wind highlights increased trading activity, even as the stock faces challenges in its price performance.