Prestige Estates Projects Sees 12.33% Surge in Open Interest to 19,339 Contracts

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 19,339 contracts, reflecting a rise of 2,122 contracts or 12.33% from the previous open interest of 17,217. This uptick in open interest comes alongside a trading volume of 9,251 contracts, indicating active participation in the market.
In terms of price performance, Prestige Estates has underperformed its sector by 0.25%, with a one-day return of -0.65%. The stock has been on a downward trend, having fallen for the last seven consecutive days, resulting in a total decline of 7.82% during this period. While the stock is currently trading above its 200-day moving average, it remains below its 5-day, 20-day, 50-day, and 100-day moving averages.

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 5-day average. Despite these challenges, the stock maintains sufficient liquidity for trades sized at Rs 2.29 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Prestige Estates Projects Ltd.