Surge in Open Interest Signals Increased Market Activity for Prestige Estates Projects Ltd.
Prestige Estates Projects Ltd has seen a notable rise in open interest, reaching 19,513 contracts, alongside a trading volume of 16,598 contracts, indicating increased market activity. Despite a recent trend reversal and underperformance relative to its sector, delivery volume surged significantly, reflecting heightened investor engagement.
Prestige Estates Projects Ltd, a prominent player in the realty sector, has experienced a significant increase in open interest today. The latest open interest stands at 19,513 contracts, reflecting a rise of 2,090 contracts or 12% from the previous open interest of 17,423. This uptick coincides with a trading volume of 16,598 contracts, indicating heightened activity in the market.In terms of price performance, Prestige Estates has underperformed its sector by 2%, with a 1D return of -1.07%. The stock reached an intraday high of Rs 1,534.8, marking a 2.26% increase at its peak. Despite this, the stock has shown a trend reversal after five consecutive days of gains. The weighted average price suggests that more volume was traded closer to the lower price range.
Additionally, the stock's moving averages indicate it is currently above the 5-day, 20-day, 50-day, and 100-day averages, but below the 200-day average. Notably, delivery volume surged by 715.19% compared to the 5-day average, highlighting increased investor participation. Overall, the notable rise in open interest and trading activity reflects a dynamic trading environment for Prestige Estates Projects Ltd.
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