Surge in Open Interest Signals Increased Trading Activity for Phoenix Mills Ltd.
Phoenix Mills Ltd. has seen a significant rise in open interest, indicating increased trading activity, with current contracts at 11,067. Despite this, the stock has underperformed its sector, experiencing a decline. Investor participation is up, and liquidity remains adequate, reflecting the stock's dynamic presence in the market.
Phoenix Mills Ltd. has experienced a notable increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 11,067 contracts, up from the previous 9,481 contracts, marking a change of 1,586 contracts or a 16.73% increase. The trading volume for the day reached 14,973 contracts, contributing to a total futures value of approximately Rs 19,242.40 lakhs.Despite this surge in open interest, Phoenix Mills has underperformed its sector, with a decline of 6.88% today. The stock opened lower, down 2.97%, and hit an intraday low of Rs 1,542.40, reflecting a decrease of 7.34%. The weighted average price indicates that more volume was traded closer to this low price point. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Investor participation has seen a rise, with delivery volume increasing by 7.98% compared to the 5-day average. The liquidity remains adequate for trading, with the stock representing 2% of the 5-day average traded value. Overall, the increase in open interest amidst a challenging trading environment highlights the dynamic nature of Phoenix Mills Ltd. in the current market landscape.
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