P I Industries Sees 12.03% Rise in Open Interest Amid Declining Stock Performance
P I Industries Ltd has reported a significant increase in open interest, reaching 31,638 contracts, alongside a trading volume of 29,514 contracts. Despite this activity, the stock has faced a decline of 1.07% today and has experienced consecutive losses over the past three days.
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 31,638 contracts, reflecting a rise of 3,397 contracts or 12.03% from the previous open interest of 28,241. This uptick coincides with a trading volume of 29,514 contracts, indicating heightened activity in the derivatives market.Despite this surge in open interest, P I Industries has underperformed its sector, with a decline of 1.07% today. The stock has faced consecutive losses over the past three days, accumulating a total drop of 7.32%. During today’s trading session, the stock reached an intraday low of Rs 3,511, down 2.17%.
The weighted average price suggests that more volume was traded closer to this 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% compared to the 5-day average.
In summary, while P I Industries has seen a significant rise in open interest, the stock's recent performance indicates ongoing challenges in the market.
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