Surge in Open Interest Signals Increased Market Activity for Prestige Estates Projects Ltd.
Prestige Estates Projects Ltd has seen a significant rise in open interest, reaching 13,759 contracts, alongside a trading volume of 6,352 contracts, indicating increased activity in the derivatives market. Despite recent price declines, investor participation has risen, with notable delivery volume growth and robust liquidity.
Prestige Estates Projects Ltd, a mid-cap player in the realty sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 13,759 contracts, reflecting a rise of 1,362 contracts or 10.99% from the previous OI of 12,397. This uptick in OI comes alongside a trading volume of 6,352 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Prestige Estates has underperformed its sector by 0.65%, with the stock recording a 1D return of -1.42%. Over the past three days, the stock has seen a decline of 5.63%. Today, it reached an intraday low of Rs 1,547.2, down 2.07%. Despite these challenges, the stock remains above its 100-day and 200-day moving averages, although it is trading below its 5-day, 20-day, and 50-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 3.82 lakh on August 28, marking a 70.34% increase compared to the 5-day average. The liquidity remains robust, supporting a trade size of Rs 1.99 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Prestige Estates Projects Ltd.
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