Polycab India Sees Significant Open Interest Surge Amid Market Fluctuations
Polycab India Ltd has seen a significant rise in open interest, reaching 25,398 contracts, alongside a trading volume of 42,367 contracts, indicating active market engagement. Despite a decline in price performance and reduced investor participation, the stock remains above key moving averages, reflecting a dynamic trading environment.
Polycab India Ltd, a prominent player in the Cables - Electricals industry, has experienced a notable increase in open interest today. The latest open interest stands at 25,398 contracts, reflecting a rise of 2,641 contracts or 11.61% from the previous open interest of 22,757. The trading volume for the day reached 42,367 contracts, indicating active participation in the market.In terms of price performance, Polycab India has underperformed its sector by 0.7%, with a 1D return of -1.84%. The stock touched an intraday low of Rs 6,680, marking a decline of 3.54%. Despite this, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages.
Investor participation has seen a decline, with delivery volume dropping by 46.01% compared to the 5-day average. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 5.54 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amid fluctuating price movements highlights the dynamic nature of Polycab India's market activity today.
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