Phoenix Mills Sees 20.06% Surge in Open Interest Amid Increased Trading Activity

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 22,889 contracts, marking a notable rise of 3,824 contracts or 20.06% from the previous open interest of 19,065 contracts. This surge coincides with a trading volume of 18,713 contracts, indicating robust market engagement.
In terms of price performance, Phoenix Mills has outperformed its sector by 0.27%, recovering after four consecutive days of 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 trading above its 50-day and 100-day moving averages, it remains below its 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% against 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 increase in open interest and the stock's recent performance highlight a dynamic trading environment for Phoenix Mills Ltd.