Page Industries Sees 12.04% Surge in Open Interest Amidst Trading Challenges

Page Industries Ltd, a prominent player in the Garments & Apparels sector, has experienced a notable increase in open interest today. The latest open interest stands at 25,410 contracts, reflecting a rise of 2,731 contracts or 12.04% from the previous open interest of 22,679. This surge comes alongside a trading volume of 13,082 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Page Industries has underperformed its sector by 0.72%, with the stock recording a decline of 1.87% over the last two days. The stock reached an intraday low of Rs 40,610, marking a decrease of 2.47% during the trading session. Currently, Page Industries is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Additionally, the stock's delivery volume on October 10 was 14,930, which represents a 22.89% increase compared to the 5-day average delivery volume, indicating a rise in investor participation. With a market capitalization of Rs 46,160 crore, Page Industries remains a significant entity in the mid-cap segment. Overall, the increase in open interest highlights a shift in market dynamics for the stock, warranting attention from market participants.