Piramal Enterprises Sees Surge in Open Interest Amid Increased Trading Activity
Piramal Enterprises Ltd has seen a notable rise in open interest, reaching 19,337 contracts, alongside a trading volume of 43,433 contracts. The stock has outperformed its sector, hitting an intraday high and showing strong liquidity, with significant increases in delivery volume and market capitalization.
Piramal Enterprises Ltd (PEL), a prominent player in the Finance/NBFC sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 19,337 contracts, up from the previous 17,468 contracts, marking a change of 1,869 contracts or a 10.7% increase. The trading volume for the day reached 43,433 contracts, contributing to a futures value of approximately Rs 66,463.80 lakhs.In terms of price performance, Piramal Enterprises has outperformed its sector by 6.71%, with the stock hitting an intraday high of Rs 1,042.80, representing an 8.31% increase. The weighted average price indicates that more volume was traded closer to the lower price range. Notably, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume has seen a substantial rise, with 2.27 lakh shares delivered on May 6, reflecting an 85.95% increase compared to the 5-day average. With a market capitalization of Rs 23,291.85 crore, Piramal Enterprises continues to demonstrate robust liquidity, suitable for trades of Rs 0.13 crore. Overall, the surge in open interest and positive price movements underscore the stock's active trading environment today.
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