Surge in Open Interest Signals Increased Activity for CG Power Amid Price Fluctuations
CG Power & Industrial Solutions Ltd has seen a notable rise in open interest, reaching 28,896 contracts, alongside a trading volume of 15,149 contracts, indicating increased activity in the derivatives market. The stock has experienced mixed price performance and a significant uptick in delivery volume, highlighting heightened investor participation.
CG Power & Industrial Solutions 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 28,896 contracts, reflecting a rise of 5,764 contracts or 24.92% from the previous open interest of 23,132. This surge is accompanied by a trading volume of 15,149 contracts, indicating heightened activity in the derivatives market.In terms of price performance, CG Power has underperformed its sector by 1.56%, with the stock falling 2.49% today. It reached an intraday low of Rs 663, marking a decline of 2.94%. The stock is currently positioned above its 100-day moving averages but below the 5-day, 20-day, 50-day, and 200-day moving averages, suggesting mixed signals in its short-term trend.
Additionally, the stock has seen a notable increase in delivery volume, which rose by 111.07% compared to the 5-day average, indicating a rise in investor participation. With a market capitalization of Rs 1,01,844.30 crore, CG Power remains a significant entity in its industry. Overall, the notable spurt in open interest reflects a dynamic trading environment for CG Power, amidst its recent price fluctuations.
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