Surge in Open Interest Signals Increased Trading Activity for Phoenix Mills Ltd.
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 12,511 contracts, alongside a trading volume of 9,560 contracts today. The stock has outperformed its sector and is trading above several moving averages, indicating strong market participation and liquidity, with a market capitalization of Rs 57,732.87 crore.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 12,511 contracts, up from the previous 11,217, marking a change of 1,294 contracts or an 11.54% increase. The trading volume for the day reached 9,560 contracts, indicating robust participation in the market.In terms of price performance, Phoenix Mills has outperformed its sector by 1.03%, with the stock gaining 3.51% over the last two days. Today, it touched an intraday high of Rs 1,640, representing a 2.62% increase. The weighted average price suggests that more volume was traded closer to the lower end of the price range. Additionally, the stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
The delivery volume on June 6 reached 797,000 shares, a notable rise of 73.71% compared to the 5-day average, indicating increased investor participation. With a market capitalization of Rs 57,732.87 crore, Phoenix Mills continues to demonstrate liquidity suitable for trades of Rs 2.42 crore based on 2% of the 5-day average traded value. Overall, the surge in open interest and trading metrics highlights a dynamic trading environment for Phoenix Mills.
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