Cummins India Sees Significant Surge in Open Interest Amid Active Market Engagement
Cummins India Ltd. has seen a notable rise in open interest, reaching 43,797 contracts, alongside a trading volume of 31,029 contracts. The stock hit an intraday high of Rs 3,339 and is trading above key moving averages, despite a significant drop in delivery volume. The company maintains a strong market capitalization of Rs 91,902.89 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 43,797 contracts, reflecting a rise of 4,961 contracts or 12.77% from the previous open interest of 38,836. This uptick coincides with a trading volume of 31,029 contracts, indicating active market engagement.In terms of price performance, Cummins India reached an intraday high of Rs 3,339, marking a 2.4% increase for the day. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory. However, it is noteworthy that delivery volume has decreased significantly, with a reported 95.63k on June 23, down by 72.04% compared to the 5-day average.
With a market capitalization of Rs 91,902.89 crore, Cummins India continues to maintain a solid position within its sector. The overall liquidity remains favorable, supporting trade sizes around Rs 3.07 crore. This surge in open interest, coupled with the stock's current performance metrics, underscores a notable day for Cummins India Ltd.
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