Prestige Estates Projects Sees Surge in Open Interest Amid Increased Trading Activity

Prestige Estates Projects 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 18,322 contracts, up from the previous 16,271, marking a change of 2,051 contracts or a 12.61% increase. The trading volume for the day reached 21,026 contracts, indicating robust market engagement.
In terms of price performance, Prestige Estates has outperformed its sector by 2%, recovering after two consecutive days of decline. The stock touched an intraday high of Rs 1,778, representing a gain of 3.46%. Currently, Prestige Estates is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.

Despite a slight decline in delivery volume, which fell by 3.7% against the 5-day average, the stock remains liquid enough for trades sized at Rs 4.49 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 76,209.10 crore, Prestige Estates continues to hold a strong position in the realty industry. Overall, the increase in open interest and positive price movements highlight a notable shift in market dynamics for Prestige Estates Projects Ltd.