Polycab India Ltd Sees 15.04% Surge in Open Interest Amid Active Trading
Polycab India Ltd, a prominent player in the Cables - Electricals industry, has experienced a significant increase in open interest today. The latest open interest stands at 32,423 contracts, reflecting a rise of 4,239 contracts or 15.04% from the previous open interest of 28,184. This uptick in open interest comes alongside a trading volume of 39,387 contracts, indicating active market engagement.In terms of price performance, Polycab India reached a new 52-week and all-time high of Rs. 7,903 today. Despite this achievement, the stock has shown a slight decline of 0.29% in its one-day return, while the sector and Sensex also reported similar declines of 0.52% and 0.29%, respectively. Notably, Polycab India is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong underlying trend.
However, there has been a decrease in investor participation, with delivery volume dropping by 18.57% compared to the 5-day average. The stock maintains a market capitalization of Rs 1,17,750.92 crore, positioning it firmly within the mid-cap segment. Overall, the notable increase in open interest highlights a dynamic trading environment for Polycab India, reflecting ongoing market activity.
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