Surge in Open Interest for Phoenix Mills Signals Increased Trading Activity in Realty Sector
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 19,458 contracts, alongside a trading volume of 12,311 contracts. Despite this increase, the stock has declined in one-day returns, with reduced investor participation reflected in a significant drop in delivery volume compared to recent averages.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, reflecting notable trading activity in the realty sector. The latest open interest stands at 19,458 contracts, up from the previous 16,049 contracts, marking a change of 3,409 contracts or a 21.24% increase. The trading volume for the day reached 12,311 contracts, contributing to a futures value of approximately Rs 42,378.25 lakhs.Despite this surge in open interest, the stock has shown a decline of 1.62% in its one-day return, which contrasts with the sector's decline of 1.97% and the Sensex's decrease of 0.79%. The weighted average price indicates that more volume was traded closer to the low price of the day. Additionally, while the stock's moving averages are higher than the 5-day, 20-day, 50-day, and 100-day averages, they remain below the 200-day moving average.
Investor participation appears to be waning, with delivery volume dropping by 43.68% compared to the 5-day average. Nevertheless, the stock maintains sufficient liquidity for trades up to Rs 2.45 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Phoenix Mills Ltd. without indicating future trends.
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