Surge in Open Interest Signals Increased Market Activity for CG Power Stock
CG Power & Industrial Solutions Ltd has seen a significant rise in open interest, reaching 26,895 contracts, alongside a trading volume of 10,268 contracts. The company's futures and options values contribute to a total market value of Rs 29,357.03 lakhs, indicating increased market engagement despite recent underperformance.
CG Power & Industrial Solutions Ltd (CGPOWER) has experienced a notable increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 26,895 contracts, reflecting a rise of 3,763 contracts or 16.27% from the previous open interest of 23,132. This surge comes alongside a trading volume of 10,268 contracts, indicating robust engagement from market participants.In terms of financial metrics, CG Power's futures value is reported at Rs 28,510.07 lakhs, while the options value significantly surpasses this at Rs 3,146,514.87 lakhs, contributing to a total value of Rs 29,357.03 lakhs. The underlying value of the stock is noted at Rs 667.
Despite this activity, CG Power has underperformed its sector by 0.84% today, with a 1D return of -1.83%. The stock has seen a trend reversal, falling after two consecutive days of gains. While it remains above its 50-day and 100-day moving averages, it is currently below its 5-day, 20-day, and 200-day moving averages. The liquidity of the stock is adequate for trading, with a delivery volume of 23.98 lakhs on July 1, reflecting a significant increase of 111.07% compared to the 5-day average. Overall, the increase in open interest highlights a shift in market dynamics for CG Power & Industrial Solutions.
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