ABB India Ltd Sees Surge in Open Interest Amid Dynamic Trading Environment
ABB India Ltd has seen a notable rise in open interest, reaching 24,987 contracts, indicating heightened trading activity. The stock has outperformed its sector and achieved an intraday high of Rs 6,175. However, investor participation has declined, with delivery volume down significantly compared to recent averages.
ABB India Ltd, a prominent player in the Heavy Electrical Equipment industry, has experienced a significant increase in open interest today, signaling notable trading activity. The latest open interest stands at 24,987 contracts, reflecting a rise of 4,324 contracts or 20.93% from the previous open interest of 20,663. The trading volume for the day reached 23,271 contracts, contributing to a total futures value of approximately Rs 24,419 lakhs.In terms of price performance, ABB India has outperformed its sector by 0.55%, with the stock gaining 1.85% over the last two days. Today, it reached an intraday high of Rs 6,175, marking a 2.7% increase. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 38.17% compared to the 5-day average. The stock maintains sufficient liquidity for trades sized at Rs 1.99 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and recent price performance highlights a dynamic trading environment for ABB India Ltd.
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