Cummins India Sees Surge in Open Interest Amid Active Market Participation
Cummins India Ltd. has reported a notable rise in open interest, reaching 29,947 contracts, alongside a trading volume of 26,661 contracts. The stock is nearing its 52-week high and has shown positive performance recently, with increased delivery volume and strong market engagement reflected in its trading metrics.
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 29,947 contracts, reflecting a rise of 2,968 contracts or 11.0% from the previous open interest of 26,979. This uptick in open interest is accompanied by a trading volume of 26,661 contracts, indicating active market participation.The stock is currently trading close to its 52-week high, just 1.2% away from the peak of Rs 3,929. Over the past two days, Cummins India has shown a positive performance, gaining 3.48% in returns. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price action.
Additionally, the stock has seen a notable increase in delivery volume, with 3.88 lakh shares delivered on August 20, marking a 24.79% rise compared to the 5-day average. With a market capitalization of Rs 1,06,477 crore, Cummins India remains a liquid stock, suitable for trades of up to Rs 3.63 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and strong trading metrics highlight the stock's active market engagement.
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