Phoenix Mills Ltd. Sees 10.94% Surge in Open Interest, Reaching 19,972 Contracts

Phoenix Mills Ltd., a mid-cap player in the realty sector, has experienced a notable increase in open interest today. The latest open interest stands at 19,972 contracts, reflecting a rise of 1,969 contracts or 10.94% from the previous open interest of 18,003. This surge in open interest comes alongside a trading volume of 11,460 contracts, indicating active participation in the market.
In terms of price performance, Phoenix Mills has underperformed its sector by 0.54% today, with a one-day return of 0.79%. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in the short to medium term. However, it is noteworthy that the delivery volume has decreased significantly, with a reported 2.41 lakh shares delivered on October 24, marking a decline of 35.84% compared to the 5-day average.

With a market capitalization of Rs 60,576.14 crore, Phoenix Mills continues to maintain a liquid trading environment, suitable for transactions of approximately Rs 1.43 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Phoenix Mills, reflecting evolving investor sentiment.