Prestige Estates Projects Ltd Sees 14.97% Surge in Open Interest to 18,333

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 18,333 contracts, reflecting a rise of 2,387 contracts or 14.97% from the previous open interest of 15,946. This uptick in open interest comes alongside a trading volume of 8,450 contracts, indicating active market engagement.
In terms of price performance, Prestige Estates is currently trading at an underlying value of Rs 1,759. The stock has shown resilience, gaining 0.35% today, in contrast to the sector's modest gain of 0.10% and the Sensex's decline of 0.52%. Notably, Prestige Estates is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend reversal after two consecutive days of decline.

However, it is worth noting a decrease in investor participation, with delivery volume dropping by 75.51% compared to the 5-day average. The stock remains liquid enough for trades up to Rs 2.19 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Prestige Estates Projects Ltd.