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

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 32,423 contracts, up from the previous 28,184 contracts, marking a change of 4,239 contracts or a 15.04% increase. The trading volume for the day reached 39,387 contracts, indicating robust market engagement.
In terms of price performance, Polycab India is currently trading just 1.87% below its 52-week high of Rs 7,794.5, having touched an intraday high of Rs 7,660, which represents a 2% increase for the day. The stock has outperformed its sector by 0.59%, with a one-day return of 1.92%, compared to the sector's return of 1.29% and the Sensex's return of 0.43%.

Additionally, Polycab India is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. The delivery volume on October 28 reached 4.47 lakh shares, a remarkable increase of 244.5% compared to the 5-day average. With a market capitalization of Rs 1,15,229.41 crore, Polycab India continues to demonstrate solid liquidity, making it a notable entity in the mid-cap segment. Overall, the surge in open interest and trading volume highlights the stock's active market presence today.