Surge in Open Interest Signals Increased Market Activity for Prestige Estates Projects Ltd.
Prestige Estates Projects Ltd has reported a notable increase in open interest, reaching 22,178 contracts, alongside a trading volume of 12,861 contracts. The stock has shown resilience with a slight price gain and a significant rise in delivery volume, indicating heightened market activity and liquidity.
Prestige Estates Projects Ltd, a prominent player in the realty sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 22,178 contracts, reflecting a rise of 3,134 contracts or 16.46% from the previous OI of 19,044. This uptick in OI is accompanied by a trading volume of 12,861 contracts, indicating heightened activity in the stock.In terms of price performance, Prestige Estates has shown resilience, gaining 0.57% today, which is in line with the sector's overall performance of 1.05%. The stock reached an intraday high of Rs 1,646, marking a 2.15% increase. Notably, the stock's current price is above its 100-day and 200-day moving averages, although it remains below the 5-day, 20-day, and 50-day averages.
Additionally, the stock has seen a notable rise in delivery volume, with 8.62 lakh shares delivered on July 28, representing a 128.77% increase compared to the 5-day average. With a market capitalization of Rs 70,429 crore, Prestige Estates continues to maintain a liquid trading environment, suitable for transactions of Rs 3.16 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Prestige Estates Projects Ltd.
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