Phoenix Mills Ltd. Sees 16.1% Surge in Open Interest Amid Increased Trading Activity
Phoenix Mills Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 22,135 contracts. This uptick accompanies a trading volume of 20,103 contracts. Despite a drop in delivery volume, the stock remains liquid, reflecting changing market dynamics.
Phoenix Mills Ltd., a prominent player in the realty sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 22,135 contracts, up from the previous 19,065, marking a change of 3,070 contracts or a 16.1% increase. This surge coincides with a trading volume of 20,103 contracts, indicating robust market engagement.In terms of price performance, Phoenix Mills has outperformed its sector by 0.47%, reversing a four-day decline. The stock reached an intraday high of Rs 1,580.8, representing a gain of 2.62% for the day. While the stock is currently above its 50-day and 100-day moving averages, it remains below the 5-day, 20-day, and 200-day moving averages, suggesting mixed short-term trends.
Despite a decline in delivery volume, which fell by 27.89% compared to the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 1.64 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest for Phoenix Mills highlights a shift in market dynamics, warranting attention from market participants.
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