P I Industries Sees 11.23% Surge in Open Interest Amid Trading Challenges
P I Industries Ltd, a mid-cap player in the Pesticides & Agrochemicals sector, has seen a significant rise in open interest, reaching 19,306 contracts. However, the stock has underperformed, experiencing consecutive losses and trading below key moving averages, indicating ongoing market challenges.
P I Industries Ltd, a mid-cap player in the Pesticides & Agrochemicals sector, has experienced a notable increase in open interest today. The latest open interest stands at 19,306 contracts, reflecting a rise of 1,949 contracts or 11.23% from the previous open interest of 17,357. The trading volume for the day reached 11,767 contracts, contributing to a futures value of approximately Rs 39.35 crore.Despite this uptick in open interest, P I Industries has underperformed its sector, with a decline of 0.43% today. The stock has faced consecutive losses over the past two days, resulting in a total drop of 3.59%. During the trading session, the stock hit an intraday low of Rs 3,478.10, marking a decrease of 2.66%.
Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Delivery volume has also seen a significant decline, falling by 70.76% compared to the 5-day average. Overall, while the increase in open interest is noteworthy, the stock's recent performance reflects broader challenges in the market.
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