Surge in Open Interest for Phoenix Mills Signals Increased Market Activity Amid Volatility
Phoenix Mills Ltd. has seen a notable rise in open interest, reaching 11,902 contracts, alongside a trading volume of 20,045 contracts, indicating increased market activity. Despite this, the stock has faced challenges, experiencing a decline and trading below multiple moving averages, highlighting its volatile market position.
Phoenix Mills Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 11,902 contracts, up from the previous 9,481 contracts, marking a change of 2,421 contracts or a 25.54% increase. The trading volume for the day reached 20,045 contracts, indicating robust participation in the market.Despite this surge in open interest, the stock has underperformed relative to its sector, showing a decline of 7.47% today. Phoenix Mills opened with a loss of 2.97% and touched an intraday low of Rs 1,525.3, representing an 8.36% drop from the previous close. The stock has exhibited high volatility, with an intraday volatility of 5.39%, calculated from the weighted average price.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 2.68 lakh shares on April 30, reflecting a 7.98% increase against the five-day average. Currently, Phoenix Mills is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Overall, the notable rise in open interest amidst a volatile trading environment underscores the dynamic nature of Phoenix Mills' market activity today.
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