ABB India Sees Significant Open Interest Surge Amid Increased Trading Activity

ABB India Ltd, a prominent player in the Heavy Electrical Equipment sector, has experienced a significant increase in open interest today. The latest open interest stands at 51,363 contracts, reflecting a rise of 5,419 contracts or 11.79% from the previous open interest of 45,944. This uptick in open interest coincides with a trading volume of 78,134 contracts, indicating heightened activity in the stock.
In terms of performance, ABB India has outperformed its sector by 0.95%, marking a trend reversal after five consecutive days of decline. The stock's weighted average price suggests that more volume was traded closer to its low price, while it currently trades below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Notably, the delivery volume on July 16 reached 281,000 shares, a 44.15% increase compared to the 5-day average delivery volume, highlighting rising investor participation.

With a market capitalization of Rs 1,18,255.47 crore, ABB India remains a liquid stock, suitable for trades up to Rs 4.59 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading activity underscores a notable shift in market dynamics for ABB India.