Cummins India Ltd. Sees 15.71% Surge in Open Interest Amid Increased Trading Activity
Cummins India Ltd. has seen a notable rise in open interest, reaching 28,180 contracts, alongside a trading volume of 49,424 contracts. The stock achieved a new 52-week high and has shown consistent upward momentum, outperforming its sector, indicating a strong market position and increased trading activity.
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 28,180 contracts, reflecting a rise of 3,826 contracts or 15.71% from the previous open interest of 24,354. This surge in open interest coincides with a trading volume of 49,424 contracts, indicating heightened activity in the stock.In terms of price performance, Cummins India reached a new 52-week high of Rs 4,304.3, marking a 2.89% increase for the day. The stock has shown consistent upward momentum, gaining 7.44% over the past three days and outperforming its sector by 0.32%. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong trend.
The diesel engines sector has also seen a positive performance, with a gain of 2.49%. Notably, the delivery volume on October 24 surged by 164.6% compared to the 5-day average, indicating increased liquidity and trading activity. Overall, the developments surrounding Cummins India reflect a robust market position and active trading environment.
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