Alkem Laboratories Sees 10.17% Surge in Open Interest Amid Price Fluctuations

Alkem Laboratories Ltd, a mid-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 17,596 contracts, reflecting a rise of 1,625 contracts or 10.17% from the previous open interest of 15,971. This uptick comes alongside a trading volume of 15,839 contracts, indicating active participation in the market.
In terms of price performance, Alkem Laboratories has outperformed its sector by 1.52%, despite facing a decline of 1.9% over the past two days. The stock reached an intraday low of Rs 5,362.5, marking a decrease of 2.64% during the session. Notably, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.

The broader Pharmaceuticals & Drugs sector has seen a decline of 2.16%, while Alkem's delivery volume has decreased by 3.95% compared to its 5-day average. With a market capitalization of Rs 65,402.06 crore, Alkem Laboratories continues to maintain liquidity suitable for trades around Rs 3.56 crore. Overall, the increase in open interest highlights a significant shift in market dynamics for Alkem Laboratories.