ABB India Ltd Sees 11.97% Surge in Open Interest, Reaching 41,938 Contracts

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 41,938 contracts, reflecting a rise of 4,482 contracts or 11.97% from the previous open interest of 37,456. This uptick comes alongside a trading volume of 39,848 contracts, indicating active market participation.
In terms of financial metrics, ABB India has a market capitalization of Rs 1,10,181.76 crore, categorizing it as a large-cap stock. The stock's performance today has seen it underperform the sector by 1.02%, with a 1D return of -0.77%. Notably, the stock has reversed its trend after two consecutive days of gains.

While the stock 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. Additionally, delivery volume has seen a significant decline, falling by 87.38% against the 5-day average, which may indicate a decrease in investor participation.

Overall, the notable increase in open interest for ABB India highlights a shift in market dynamics, warranting attention from market observers.