Divis Laboratories Sees Surge in Open Interest Amid Market Activity and Price Fluctuations
Divis Laboratories Ltd has seen a notable rise in open interest, reaching 29,855 contracts, alongside a trading volume of 22,056 contracts. Despite a decline in stock performance and consecutive losses, the stock remains above its 200-day moving average, indicating ongoing trading activity amid recent fluctuations.
Divis Laboratories Ltd, a prominent player in the Pharmaceuticals & Drugs sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 29,855 contracts, reflecting a rise of 3,322 contracts or 12.52% from the previous OI of 26,533. This uptick in OI comes alongside a trading volume of 22,056 contracts, indicating heightened activity in the stock.In terms of price performance, Divis Laboratories has underperformed its sector by 1.98%, with the stock recording a decline of 3.69% on the day. It has faced consecutive losses over the past two days, totaling a drop of 5.19%. The stock reached an intraday low of Rs 5,560.75, marking a decrease of 3.72% from the previous close.
Despite these challenges, the stock remains above its 200-day moving average, although it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages. The liquidity remains adequate for trading, with a delivery volume of 1.87 lakh shares, which has decreased by 14.38% compared to the 5-day average.
Overall, the notable increase in open interest for Divis Laboratories highlights a shift in market dynamics, reflecting the ongoing trading activity amid recent price fluctuations.
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