Surge in Open Interest Signals Increased Activity in CG Power's Derivatives Market
CG Power & Industrial Solutions Ltd has seen a notable rise in open interest, reaching 25,139 contracts, alongside a trading volume of 12,690 contracts. The stock has outperformed its sector and is trading above several moving averages, despite a decline in delivery volume and a drop in investor participation.
CG Power & Industrial Solutions Ltd (symbol: CGPOWER) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 25,139 contracts, up from the previous figure of 22,778, marking a change of 2,361 contracts or a 10.37% increase. The trading volume for the day reached 12,690 contracts, contributing to a total futures value of approximately Rs 23,823.36 lakhs.In terms of price performance, CG Power has outperformed its sector by 1.45%, with the stock touching an intraday high of Rs 659.4, representing a 2.19% increase. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below its 200-day moving average. Notably, there has been a decline in investor participation, with delivery volume dropping by 22.73% compared to the 5-day average.
With a market capitalization of Rs 1,00,989.47 crore, CG Power continues to maintain a solid position within the capital goods industry. The increase in open interest today highlights the stock's active trading environment, reflecting ongoing market dynamics.
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