Page Industries Sees 12.9% Surge in Open Interest Amid Price Decline
Page Industries Ltd has seen a notable rise in open interest, reaching 33,327 contracts, alongside a trading volume of 50,533 contracts, indicating increased market activity. Despite this, the stock has hit a 52-week low and is trading below key moving averages, reflecting ongoing challenges in the market.
Page Industries Ltd, a prominent player in the Garments & Apparels sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 33,327 contracts, up from the previous 29,518, marking a change of 3,809 contracts or a 12.9% increase. This surge coincides with a trading volume of 50,533 contracts, indicating robust market engagement.In terms of price performance, Page Industries reached a new 52-week low of Rs 38,765, down 2.07% from the previous day. The stock has underperformed its sector, which gained 2.18%, and is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Notably, the stock's delivery volume on November 13 was 20,580 shares, reflecting a substantial increase of 143.47% compared to the 5-day average.
With a market capitalization of Rs 44,560 crore, Page Industries remains a mid-cap entity in the garments industry. The liquidity of the stock is adequate for trades up to Rs 1.78 crore, based on 2% of the 5-day average traded value. Overall, the notable rise in open interest highlights a shift in trading dynamics for Page Industries amidst a challenging market environment.
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