Syngene International Sees Significant Surge in Open Interest, Indicating Market Dynamics Shift

Mar 24 2025 03:00 PM IST
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Syngene International Ltd has seen a significant rise in open interest, reaching 14,331 contracts, up from 10,290. The trading volume for the day was 10,121 contracts, with a total futures value of approximately Rs 48,604.54 lakhs. The stock's market capitalization stands at Rs 28,942.41 crore.
Syngene International Ltd, a prominent player in the Pharmaceuticals & Drugs sector, has experienced a significant increase in open interest today. The latest open interest stands at 14,331 contracts, marking a notable rise from the previous open interest of 10,290 contracts. This change represents an increase of 4,041 contracts, or 39.27%. The trading volume for the day reached 10,121 contracts, contributing to a total futures value of approximately Rs 48,604.54 lakhs.

In terms of price performance, Syngene has underperformed its sector by 0.37% today, despite achieving a 1.9% gain over the last two days. The stock's current price is above its 5-day and 20-day moving averages but remains below the 50-day, 100-day, and 200-day moving averages. Additionally, the stock has seen a decline in delivery volume, which fell by 43.3% compared to the 5-day average, indicating a decrease in investor participation.

With a market capitalization of Rs 28,942.41 crore, Syngene International continues to maintain a liquid trading environment, suitable for transactions around Rs 1.33 crore. The increase in open interest reflects a notable shift in market dynamics for the stock, underscoring the evolving landscape within the pharmaceuticals sector.
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