Surge in Open Interest for Page Industries Signals Increased Market Activity Amidst Decline
Page Industries Ltd has seen a notable rise in open interest, reaching 27,477 contracts, alongside a trading volume of 26,101 contracts, indicating active market engagement. However, the stock has underperformed its sector, experiencing a decline and trading below key moving averages, reflecting a bearish trend.
Page Industries Ltd, a prominent player in the Garments & Apparels industry, has experienced a significant increase in open interest today. The latest open interest stands at 27,477 contracts, reflecting a rise of 3,314 contracts or 13.72% from the previous open interest of 24,163. The trading volume for the day reached 26,101 contracts, indicating active participation in the market.Despite this uptick in open interest, Page Industries has underperformed its sector, with a decline of 1.63% today. The stock has been on a downward trend, losing 3.06% over the past two days. It touched an intraday low of Rs 43,820, marking a decrease of 4.24% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.
Additionally, Page Industries is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The delivery volume has also seen a decline, falling by 32.26% against the 5-day average. With a market capitalization of Rs 49,395 crore, the stock remains liquid enough for trades of Rs 1.91 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest amidst a challenging trading environment highlights the current dynamics surrounding Page Industries.
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