Phoenix Mills Sees Surge in Open Interest, Indicating Increased Trading Activity
Phoenix Mills Ltd. has seen a significant rise in open interest, reaching 5,500 contracts, alongside a trading volume of 5,125 contracts. The stock has outperformed its sector and achieved an intraday high of Rs 1,660, despite a decline in delivery volume, indicating robust trading activity in the construction and real estate sector.
Phoenix Mills Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its trading. The latest open interest stands at 5,500 contracts, up from the previous 4,932, marking a change of 568 contracts or an 11.52% increase. The trading volume for the day reached 5,125 contracts, contributing to a futures value of approximately Rs 6,574.52 lakhs and an options value of around Rs 2,429.90 crores, bringing the total value to Rs 7,272.14 lakhs.In terms of price performance, Phoenix Mills has outperformed its sector by 0.47%, recovering after two consecutive days of decline. The stock reached an intraday high of Rs 1,660, reflecting a gain of 3.68% for the day. While the stock is currently above its 20-day, 50-day, and 100-day moving averages, it remains below its 5-day and 200-day moving averages.
Despite a decline in delivery volume, which fell by 60.92% compared to the 5-day average, the stock maintains sufficient liquidity for trades of Rs 1.48 crore, indicating a stable market presence. Overall, the increase in open interest and the stock's performance today highlight significant trading dynamics within the construction and real estate sector.
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