Polycab India Sees Surge in Open Interest Amid Increased Trading Activity
Polycab India Ltd has seen a notable rise in open interest, reflecting increased trading activity, with current figures at 43,099 contracts. The stock has outperformed its sector and achieved a 2.59% return today, supported by strong market engagement and a significant market capitalization of Rs 92,617.58 crore.
Polycab India Ltd, a prominent player in the Cables - Electricals industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 43,099 contracts, up from the previous 38,781, marking a change of 4,318 contracts or an 11.13% increase. This surge coincides with a trading volume of 102,150 contracts, indicating robust market engagement.In terms of price performance, Polycab India has outperformed its sector by 1.73%, with a notable 2.59% return on the day. The stock has been on a positive trajectory, gaining 5.79% over the last two days. It reached an intraday high of Rs 6,178.5, reflecting a 2.97% increase. The stock's performance is also supported by its position relative to moving averages, being higher than the 5-day, 20-day, 50-day, and 100-day averages, although it remains below the 200-day average.
With a market capitalization of Rs 92,617.58 crore, Polycab India continues to demonstrate liquidity, with a delivery volume of 3.6 lakh shares on June 20, up 104.21% compared to the 5-day average. This data underscores the stock's active trading environment and its current market standing.
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