Surge in Open Interest Signals Increased Market Engagement for CG Power
CG Power & Industrial Solutions Ltd has seen a notable rise in open interest, indicating increased trading activity, with a total of 25,102 contracts. The stock has outperformed its sector, reversing a three-day decline, while delivery volume also surged significantly. The company's market capitalization stands at Rs 96,853.88 crore.
CG Power & Industrial Solutions Ltd (CGPOWER) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 25,102 contracts, up from the previous figure of 22,142, marking a change of 2,960 contracts or a 13.37% increase. The trading volume for the day reached 16,873 contracts, contributing to a total futures value of approximately Rs 34,773.88 lakhs.In terms of price performance, CG Power has outperformed its sector by 1.18%, reversing a three-day decline. The stock touched an intraday high of Rs 652.55, representing a gain of 3.1%. While the stock is currently above its 20-day and 50-day moving averages, it remains below the 5-day, 100-day, and 200-day moving averages.
Additionally, the delivery volume on March 24 was recorded at 28.26 lakh shares, reflecting a substantial increase of 61.04% compared to the five-day average. With a market capitalization of Rs 96,853.88 crore, CG Power continues to demonstrate liquidity suitable for trades around Rs 4.37 crore. Overall, the notable rise in open interest and trading volume indicates a dynamic shift in market engagement for CG Power & Industrial Solutions.
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