Polycab India Ltd Sees 12.45% Surge in Open Interest Amid Strong Trading Activity
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 24,836 contracts, up from the previous 22,086, marking a change of 2,750 contracts or a 12.45% increase. The trading volume for the day reached 27,212 contracts, indicating robust market engagement.In terms of price performance, Polycab India achieved a new 52-week and all-time high of Rs 7,794.5, representing a 2.14% increase during intraday trading. The stock has shown consistent gains over the past two days, with a total return of 2.13% in this period, outperforming its sector by 0.82%. Notably, Polycab India is 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 36.43% compared to the 5-day average. The stock remains liquid, suitable for trades up to Rs 2.25 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and the stock's recent performance highlight a dynamic trading environment for Polycab India.
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