ABB India Ltd Sees 11.23% Surge in Open Interest, Reaching 33,879 Contracts

ABB India Ltd, a prominent player in the Heavy Electrical Equipment industry, has experienced a notable increase in open interest today. The latest open interest stands at 33,879 contracts, reflecting a rise of 3,420 contracts or 11.23% from the previous open interest of 30,459. This surge in open interest comes alongside a trading volume of 32,082 contracts, indicating active market participation.
In terms of price performance, ABB India has outperformed its sector by 0.38%, with the stock gaining 0.97% over the last two days. The stock reached an intraday high of Rs 5,343, marking a 2.4% increase during the trading session. While the stock is currently above its 5-day and 50-day moving averages, it remains below the 20-day, 100-day, and 200-day moving averages.

Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 51.66% compared to the 5-day average. The stock's liquidity remains adequate for trades of Rs 2.13 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for ABB India Ltd.