Polycab India Sees Surge in Open Interest Amid Strong Market Activity

Polycab India Ltd, a prominent player in the electrical cables industry, has experienced a significant increase in open interest today. The latest open interest stands at 44,585 contracts, reflecting a rise of 4,198 contracts or 10.39% from the previous open interest of 40,387. This uptick coincides with a trading volume of 82,543 contracts, indicating robust activity in the market.
In terms of performance, Polycab India has outperformed its sector by 0.7% today, marking its fourth consecutive day of gains with a total return of 10.01% over this period. The stock reached an intraday high of Rs 6,495, representing a 2.39% increase. Notably, Polycab India is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 6.56% compared to the 5-day average. The stock remains liquid, with a trade size capacity of Rs 8.39 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a notable day for Polycab India in the market.