Prestige Estates Projects Ltd Sees 10.75% Surge in Open Interest Amid Price Decline

Prestige Estates Projects Ltd, a mid-cap player in the realty sector, has experienced a notable increase in open interest today. The latest open interest stands at 19,466 contracts, reflecting a rise of 1,890 contracts or 10.75% from the previous open interest of 17,576. This uptick in open interest comes alongside a trading volume of 10,498 contracts, indicating active participation in the market.
In terms of price performance, Prestige Estates has underperformed its sector by 0.62%, with a one-day return of -1.53%. The stock has been on a downward trend, recording a decline of 6.33% over the past six days. Currently, the stock's price is above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages, suggesting mixed signals in its short-term performance.

Additionally, the stock has shown rising investor participation, with a delivery volume of 573,000 shares on September 24, marking a 38.55% increase compared to the five-day average. With a market capitalization of Rs 66,702.88 crore, Prestige Estates remains a significant entity in the realty industry. Overall, the increase in open interest highlights a shift in market dynamics for Prestige Estates Projects Ltd, reflecting ongoing activity in its trading landscape.