Havells India Sees Surge in Open Interest Amid Market Volatility
Havells India Ltd. has seen a notable rise in open interest, reaching 44,170 contracts, alongside a trading volume of 86,855 contracts, indicating active participation in the derivatives market. Despite this, the stock has underperformed its sector and experienced a decline after a series of gains.
Havells India Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) reported at 44,170 contracts, up from the previous OI of 35,669 contracts. This marks a change of 8,501 contracts, reflecting a percentage increase of 23.83%. The trading volume for the stock reached 86,855 contracts, indicating robust activity in the derivatives market.In terms of price performance, Havells India has underperformed its sector by 1.32%, with the stock falling after an eight-day streak of gains. The stock touched an intraday low of Rs 1,583.4, representing a decline of 4.88%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, it is currently below its 200-day moving average.
The cable sector overall has seen a decline of 2.04%, and Havells India reported a 1D return of -3.46%. Notably, delivery volume has decreased by 39.77% compared to the 5-day average, indicating a drop in investor participation. With a market capitalization of Rs 1,00,755.81 crore, Havells India continues to be a significant player in the cable industry.
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