Surge in Open Interest Signals Increased Market Activity for Phoenix Mills Ltd.
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 11,864 contracts, alongside a trading volume of 21,378 contracts. Despite this activity, the stock opened lower and is trading below multiple moving averages, indicating volatility and a challenging trading environment.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 11,864 contracts, up from the previous open interest of 9,481 contracts, marking a change of 2,383 contracts or a 25.13% increase. The trading volume for the day reached 21,378 contracts, contributing to a total futures value of approximately Rs 25,757.33 lakhs.In terms of price performance, Phoenix Mills opened the day with a loss of 2.97%, underperforming its sector by 6.8%. The stock hit an intraday low of Rs 1,525.3, representing a decline of 8.36%. The weighted average price indicates that more volume was traded closer to this low price, highlighting the stock's volatility, which was calculated at 5.62% for the day.
Despite the increase in open interest, Phoenix Mills is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock's liquidity remains adequate, with a delivery volume of 2.68 lakhs, reflecting a 7.98% increase compared to the 5-day average delivery volume. Overall, the surge in open interest amidst a challenging trading environment underscores the dynamic nature of Phoenix Mills' market activity today.
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