Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 36,394 contracts, alongside a trading volume of 23,753 contracts. Despite a recent decline in stock price, it has outperformed its sector slightly and demonstrated increased investor participation, with a significant rise in delivery volume.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 36,394 contracts, up from the previous 29,660 contracts, marking a change of 6,734 contracts or a 22.7% increase. The trading volume for the day reached 23,753 contracts, contributing to a total futures value of approximately Rs 70.66 crore.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 0.28%, despite a recent decline, with the stock down 0.74% today and having fallen 2.23% over the last two days. The stock is currently trading above its 5-day, 20-day, and 50-day moving averages, but below its 100-day and 200-day moving averages, indicating mixed short to medium-term trends.
Additionally, the stock has shown rising investor participation, with a delivery volume of 636,000 shares on March 24, reflecting a substantial increase of 146.2% compared to the 5-day average. With a market capitalization of Rs 41,864 crore, Glenmark Pharmaceuticals remains a notable player in the pharmaceuticals and drugs industry. Overall, the increase in open interest highlights a notable shift in trading dynamics for the stock.
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