Phoenix Mills Sees Surge in Open Interest Amid Increased Trading Activity
Phoenix Mills Ltd. has seen a significant rise in open interest, reaching 5,575 contracts, alongside a trading volume of 3,663 contracts, indicating increased market activity. The stock has outperformed its sector and is currently trading above several key moving averages, despite a decline in investor participation.
Phoenix Mills Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 5,575 contracts, up from the previous 4,932, marking a change of 643 contracts or a 13.04% increase. The trading volume for the day reached 3,663 contracts, indicating robust participation in the market.In terms of price performance, Phoenix Mills has outperformed its sector by 0.44%, recovering after two consecutive days of decline. The stock touched an intraday high of Rs 1,660, representing a gain of 3.68% for the day. 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.
The broader construction and real estate sector has also shown positive momentum, gaining 2.41% today. However, it is worth noting that investor participation has decreased, with delivery volume falling by 60.92% compared to the 5-day average. Overall, the increase in open interest for Phoenix Mills Ltd. highlights a significant shift in trading dynamics, reflecting the stock's current market activity.
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