ABB India Ltd Sees 10.72% Surge in Open Interest, Reaching 41,473 Contracts

ABB India Ltd, a prominent player in the Heavy Electrical Equipment industry, has experienced a significant increase in open interest today. The latest open interest stands at 41,473 contracts, reflecting a rise of 4,017 contracts or 10.72% from the previous open interest of 37,456. This uptick in open interest comes alongside a trading volume of 32,240 contracts, indicating active market participation.
In terms of price performance, ABB India has underperformed its sector by 1.15%, with a one-day return of -1.07%. The stock has seen a trend reversal after two consecutive days of gains. While it is currently trading above its 5-day and 50-day moving averages, it remains below the 20-day, 100-day, and 200-day moving averages, suggesting mixed signals in its short to medium-term performance.

Investor participation appears to be declining, with a delivery volume of 18,090 on October 21, which is down by 87.38% compared to the 5-day average. Despite this, the stock maintains sufficient liquidity for trades up to Rs 2.3 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for ABB India Ltd, warranting close observation.