Polycab India Ltd Sees 15.04% Surge in Open Interest to 32,423 Contracts
Polycab India Ltd has seen a notable rise in open interest, reaching 32,423 contracts, alongside a trading volume of 39,387 contracts. The stock achieved a new all-time high of Rs. 7,903, while delivery volume has decreased. The company maintains a market capitalization of Rs. 1,18,322.96 crore.
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 active participation in the market.In terms of price performance, Polycab India reached a new 52-week and all-time high of Rs. 7,903 today. The stock has shown consistent gains over the past three days, accumulating a total return of 4.59% during this period. It has traded within a narrow range of Rs. 73, and is currently positioned above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite this positive performance, there has been a noted decline in investor participation, with delivery volume dropping by 18.57% compared to the 5-day average. The stock maintains a market capitalization of Rs. 1,18,322.96 crore, categorizing it as a mid-cap stock. 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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