Phoenix Mills Sees Surge in Open Interest Amidst Mixed Market Performance
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 7,901 contracts, alongside a trading volume of 3,761 contracts. Despite a recent decline, the stock has outperformed its sector and remains above several key moving averages, indicating a shift in trading dynamics within a mixed market environment.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 7,901 contracts, marking an increase of 1,234 contracts or 18.51% from the previous open interest of 6,667. The trading volume for the day reached 3,761 contracts, indicating robust participation in the market.In terms of price performance, Phoenix Mills has outperformed its sector by 1.4%, despite facing a decline over the past three days, with a total drop of 1.99%. The stock recorded an intraday high of Rs 1,715.8, reflecting a gain of 2.78%, while it also touched a low of Rs 1,635.6, down by 2.02%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.
Additionally, the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average. The construction and real estate sector has seen a decline of 2.63% today. Overall, the increase in open interest for Phoenix Mills Ltd. highlights a notable shift in trading dynamics, amidst a mixed performance in the broader market.
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