P I Industries Sees 11.88% Rise in Open Interest Amid Price Decline
P I Industries Ltd has reported a significant rise in open interest, reaching 31,597 contracts, alongside a trading volume of 20,640. Despite this increase, the stock has underperformed, declining 2.02% today and 7.77% over the past three days, while delivery volume surged significantly.
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 31,597 contracts, reflecting a rise of 3,356 contracts or 11.88% from the previous open interest of 28,241. The trading volume for the day reached 20,640, indicating active participation in the market.Despite this uptick in open interest, P I Industries has underperformed its sector, with a decline of 2.02% in stock price today, compared to a sector decline of 0.50%. The stock has been on a downward trend, losing 7.77% over the past three days. It touched an intraday low of Rs 3,512, down 2.14% from the previous close.
The weighted average price suggests that more volume was traded closer to the low price, and the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Notably, delivery volume surged to 8.15 lakh shares on November 12, marking an increase of 958.97% against the 5-day average delivery volume, indicating rising investor participation.
In summary, while P I Industries has seen a significant increase in open interest, the stock continues to face challenges in terms of price performance and market positioning.
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