Phoenix Mills Sees Surge in Open Interest, Indicating Shift in Market Dynamics

Apr 02 2025 02:00 PM IST
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Phoenix Mills Ltd. has seen a significant rise in open interest, reaching 5,490 contracts, alongside a trading volume of 4,954 contracts. The stock has outperformed its sector slightly and is currently trading above several moving averages, despite a notable decline in delivery volume.
Phoenix Mills Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 5,490 contracts, up from the previous figure of 4,932, marking a change of 558 contracts or an 11.31% increase. The trading volume for the day reached 4,954 contracts, contributing to a total futures value of approximately Rs 6,105.95 lakhs and an options value of Rs 2,375.40 crores, bringing the total to Rs 6,786.75 lakhs.

In terms of price performance, Phoenix Mills has outperformed its sector by 0.32%, recovering after two consecutive days of decline. The stock reached an intraday high of Rs 1,660, reflecting a gain of 3.68%. Currently, the stock is trading above its 20-day, 50-day, and 100-day moving averages, although it remains below its 5-day and 200-day moving averages.

Despite a significant drop in delivery volume, which fell by 60.92% compared to the 5-day average, the liquidity remains adequate for trades up to Rs 1.48 crore. Overall, the increase in open interest indicates a shift in market dynamics for Phoenix Mills, aligning with broader trends in the construction and real estate sector, which has gained 2.37% today.
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