ABB India Ltd Sees 12.56% Surge in Open Interest Amid Price Decline

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 37,878 contracts, reflecting a rise of 4,228 contracts or 12.56% from the previous open interest of 33,650. This uptick in open interest comes alongside a trading volume of 33,598 contracts, indicating heightened activity in the stock.
Despite this surge in open interest, ABB India has underperformed its sector, with a decline of 2.27% today. The stock opened lower, down 2.47%, and reached an intraday low of Rs 4,976, marking a total drop of 4.82% during the trading session. Over the past three days, ABB India has seen a cumulative decline of 5.12%.

In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 169,000 shares on November 6, which is a notable increase of 137.64% compared to the five-day average. Currently, ABB India is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a challenging market position. Overall, the increase in open interest highlights a notable shift in trading dynamics for ABB India amidst a broader market decline.