Polycab India Sees Surge in Open Interest Amid Increased Trading Activity
Polycab India Ltd has seen a notable rise in open interest, reaching 41,378 contracts, alongside a trading volume of 128,284 contracts, indicating strong market activity. The stock has outperformed its sector and recorded significant price gains, reflecting a robust trading environment and strong liquidity.
Polycab India Ltd, a prominent player in the cable industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 41,378 contracts, up from the previous 31,812, marking a notable change of 9,566 contracts or 30.07%. This surge in open interest coincides with a trading volume of 128,284 contracts, indicating robust market engagement.In terms of price performance, Polycab India has outperformed its sector by 2.81%, with the stock gaining 3.15% today. Over the past two days, it has recorded an impressive return of 8.99%. The stock reached an intraday high of Rs 5,968.5, reflecting a 2.99% increase. The weighted average price suggests that more volume was traded closer to the lower end of the price range.
Polycab India’s liquidity remains strong, with a delivery volume of 2.35 lakh shares on May 5, which is 40.41% higher than the five-day average. The stock's market capitalization is approximately Rs 89,917.98 crore, categorizing it as a large-cap entity. Overall, the increase in open interest and positive price movements highlight the stock's active trading environment today.
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