Prestige Estates Projects Ltd Sees 13.88% Surge in Open Interest Amid Trading Activity
Prestige Estates Projects Ltd has seen a significant rise in open interest, reaching 19,606 contracts, while trading volume hit 11,889 contracts. Despite this increase, the stock has underperformed its sector and experienced consecutive weekly losses. Investor participation is declining, indicating shifting market dynamics for the company.
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 19,606 contracts, reflecting a rise of 2,389 contracts or 13.88% from the previous open interest of 17,217. The trading volume for the day reached 11,889 contracts, contributing to a futures value of approximately Rs 36,938.57 lakhs.Despite this uptick in open interest, the stock has underperformed its sector, showing a decline of 1.31% today compared to a sector decline of 1.15%. Over the past week, Prestige Estates has faced consecutive losses, with an overall drop of 8.48%. The stock is currently trading above its 200-day moving average but below its shorter-term moving averages, indicating mixed performance trends.
Investor participation appears to be waning, as evidenced by a delivery volume of 2.7 lakh shares on September 25, which is down 44.67% compared to the five-day average. The stock remains liquid enough for trades sized at Rs 2.29 crore, based on 2% of the five-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Prestige Estates Projects, amidst a backdrop of declining stock performance.
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