ABB India Ltd Sees Significant Surge in Open Interest Amid Increased Trading Activity
ABB India Ltd has seen a notable rise in open interest, reaching 48,817 contracts, alongside a trading volume of 57,451 contracts, indicating increased market activity. The stock has outperformed its sector and is currently above its short-term moving averages, despite a decline in delivery volume.
ABB India Ltd, a prominent player in the Electric Equipment industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 48,817 contracts, marking a rise of 6,035 contracts or 14.11% from the previous open interest of 42,782. This surge coincides with a trading volume of 57,451 contracts, indicating robust market engagement.In terms of price performance, ABB India outperformed its sector by 1.63%, reaching an intraday high of Rs 5,604.90, which represents a 3.52% increase. The stock is currently positioned above its 5-day and 20-day moving averages, although it remains below the 50-day, 100-day, and 200-day moving averages. Notably, there has been a decline in investor participation, with delivery volume dropping by 43.49% compared to the 5-day average.
With a market capitalization of Rs 1,14,963 crore, ABB India continues to maintain a strong presence in the market. The recent developments in open interest and trading volume highlight the stock's active engagement in the current market landscape.
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