Piramal Enterprises Sees Significant Surge in Open Interest Amid Increased Trading Activity
Piramal Enterprises Ltd has seen a significant rise in open interest, reaching 13,418 contracts, alongside a notable increase in trading volume. Despite underperforming its sector, investor participation surged, with delivery volume rising dramatically. The stock's liquidity remains strong, indicating an active trading environment.
Piramal Enterprises Ltd (PEL), a prominent player in the Finance/NBFC sector, has experienced a notable increase in open interest today. The latest open interest stands at 13,418 contracts, reflecting a rise of 1,295 contracts or 10.68% from the previous open interest of 12,123. The trading volume for the day reached 5,959 contracts, contributing to a total futures value of approximately Rs 23,334.54 lakhs.In terms of price performance, Piramal Enterprises underperformed its sector by 1.41%, with the stock hitting an intraday low of Rs 969.75, marking a decline of 5.08%. The weighted average price indicates that more volume was traded closer to this low price. While the stock is currently above its 20-day and 50-day moving averages, it remains below the 5-day, 100-day, and 200-day moving averages.
Investor participation has seen a significant uptick, with delivery volume on April 24 reaching 10.16 lakh shares, a remarkable increase of 554.26% compared to the 5-day average. The liquidity of the stock remains robust, accommodating trade sizes of Rs 1.18 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading activity highlights a dynamic trading environment for Piramal Enterprises.
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