Surge in Open Interest Signals Increased Trading Activity for Prestige Estates Projects
Prestige Estates Projects Ltd has seen a notable rise in open interest, reaching 28,337 contracts, indicating increased activity in the derivatives market. The stock has outperformed its sector and demonstrated rising investor participation, with significant delivery volume and a substantial market capitalization, reflecting a dynamic trading environment.
Prestige Estates Projects Ltd, a prominent player in the construction and real estate sector, has experienced a significant increase in open interest today. The latest open interest stands at 28,337 contracts, reflecting a rise of 3,255 contracts or 12.98% from the previous open interest of 25,082. This surge indicates heightened activity in the derivatives market for the stock, with a trading volume of 20,343 contracts.In terms of price performance, Prestige Estates Projects has outperformed its sector by 0.61%. The stock reached an intraday high of Rs 1,257.5, marking a 2.83% increase during the trading session. The weighted average price suggests that more volume was traded closer to the lower price range, while the stock is currently positioned above its 5-day and 20-day moving averages, yet below the 50-day, 100-day, and 200-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 611,000 shares on March 25, which is a 36.1% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 53,032 crore, Prestige Estates Projects remains a liquid option for trades of approximately Rs 2.49 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest underscores the active trading environment surrounding Prestige Estates Projects.
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