Phoenix Mills Sees Surge in Open Interest Amidst Price Decline and Active Trading
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 10,642 contracts, alongside a trading volume of 13,037 contracts, indicating active market engagement. Despite a decline in price performance and underperformance relative to its sector, delivery volume has increased, reflecting changing market dynamics.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 10,642 contracts, up from the previous OI of 9,481 contracts. This marks a change of 1,161 contracts, reflecting a percentage increase of 12.25%. The trading volume for the stock reached 13,037 contracts, indicating active participation in the market.In terms of price performance, Phoenix Mills opened the day with a loss of 2.97%, touching an intraday low of Rs 1,542.4, which represents a decline of 7.34%. The stock has underperformed its sector by 6.21% today, with a one-day return of -5.82%. Additionally, it is currently 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.
Despite the challenges in price performance, there has been a notable rise in delivery volume, which increased by 7.98% compared to the 5-day average. The liquidity of the stock remains adequate, with a trade size of Rs 0.89 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Phoenix Mills Ltd.
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