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

Prestige Estates Projects Ltd, a mid-cap 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 comes alongside a trading volume of 8,450 contracts, indicating active market participation.
In terms of financial metrics, the total futures value is reported at Rs 36,832.13 lakhs, while the options value is notably high at Rs 3,077.54 crore, bringing the total value to Rs 37,222.50 lakhs. The underlying value of the stock is currently at Rs 1,759.

Despite this surge in open interest, Prestige Estates has faced challenges in recent trading sessions, with the stock declining by 1.82% over the last three days. Today, it recorded a slight drop of 0.23%, while the sector and Sensex saw minimal changes of -0.02% and -0.50%, respectively. The stock remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, although delivery volume has decreased significantly, falling by 75.51% compared to the 5-day average.

In summary, the notable increase in open interest for Prestige Estates Projects Ltd highlights a shift in market dynamics, even as the stock navigates recent downward trends.