Polycab India Ltd Sees 15.04% Surge in Open Interest to 32,423

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 surge in open interest comes alongside a trading volume of 39,387 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Polycab India reached a new 52-week and all-time high of Rs. 7,865 today. The stock has outperformed its sector by 1.45% and has shown a consecutive gain over the last two days, yielding a total return of 4.58% during this period. 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.

However, it is worth mentioning that the delivery volume has decreased significantly, with a reported 96.55k on October 29, down by 46.7% compared to the 5-day average. Despite this decline in investor participation, the stock remains liquid enough for trades sized at Rs 5.32 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for Polycab India.