Surge in Open Interest Signals Increased Market Activity for CG Power & Industrial Solutions
CG Power & Industrial Solutions Ltd has seen a significant rise in open interest, reaching 29,252 contracts, alongside a trading volume of 16,170 contracts. Despite underperforming its sector, the stock has attracted increased investor participation, with a notable rise in delivery volume, indicating heightened market activity.
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 29,252 contracts, reflecting a notable rise of 6,120 contracts or 26.46% from the previous open interest of 23,132. This surge in open interest coincides with a trading volume of 16,170 contracts, indicating heightened activity in the derivatives market.In terms of price performance, CG Power has underperformed its sector by 1.03%, with the stock recording a 1D return of -2.25%. The stock reached an intraday low of Rs 661.5, marking a decline of 3.15%. Despite this, the stock remains above its 100-day moving average, although it is trading lower than its 5-day, 20-day, 50-day, and 200-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 23.98 lakh shares on July 1, reflecting an increase of 111.07% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,02,088.95 crore, CG Power continues to maintain a liquid trading environment, suitable for transactions up to Rs 4.32 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for CG Power & Industrial Solutions.
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