Inox Wind Sees 18.91% Surge in Open Interest Amid Increased Trading Activity

Inox Wind Ltd, a player in the Heavy Electrical Equipment industry, has experienced a significant increase in open interest today, signaling heightened activity in its derivatives market. The latest open interest stands at 40,466 contracts, up from the previous 34,032, marking a change of 6,434 contracts or an 18.91% increase. The trading volume for the day reached 33,138 contracts, contributing to a futures value of approximately Rs 35,308.06 lakhs.
Despite this surge in open interest, Inox Wind's stock performance has underperformed its sector by 1.01%, with a 1D return of -1.47%. The stock touched an intraday high of Rs 153.45, reflecting a 3.2% increase at its peak. However, it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the short to medium term.

Additionally, the stock has seen a notable rise in delivery volume, which increased by 45.52% compared to the 5-day average, reaching 30.25 lakh shares on November 14. With a market capitalization of Rs 25,492 crore, Inox Wind remains a small-cap entity in the market. Overall, the increase in open interest highlights a shift in trading dynamics, while the stock's performance metrics suggest ongoing challenges.