Cummins India Ltd. Sees 10.21% Rise in Open Interest Amid Increased Trading Activity
Cummins India Ltd. has seen a notable increase in open interest, reaching 23,609 contracts, alongside a trading volume of 18,724 contracts. The stock is near its 52-week high and has outperformed its sector, reflecting strong market activity and robust liquidity with a market capitalization of Rs 1,14,844 crore.
Cummins India Ltd., a prominent player in the Compressors, Pumps & Diesel Engines industry, has experienced a significant increase in open interest today. The latest open interest stands at 23,609 contracts, reflecting a rise of 2,188 contracts or 10.21% from the previous open interest of 21,421. This uptick in open interest coincides with a trading volume of 18,724 contracts, indicating heightened activity in the stock.In terms of market performance, Cummins India is currently trading close to its 52-week high, just 0.74% away from Rs 4,168.7. The stock has shown resilience, outperforming its sector by 0.27% today and achieving a 1.60% return in the last trading session. Over the past two days, Cummins India has recorded a total gain of 3.43%.
The stock is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend. Notably, the delivery volume on October 23 reached 394,000 shares, marking an impressive increase of 181.33% compared to the 5-day average. With a market capitalization of Rs 1,14,844 crore, Cummins India continues to demonstrate robust liquidity, making it a viable option for trading activities. Overall, the notable rise in open interest underscores the stock's active trading environment.
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