Surge in Open Interest for Alkem Laboratories Signals Increased Trading Activity Amid Mixed Performance

Alkem Laboratories Ltd, a prominent player in the Pharmaceuticals & Drugs sector, has experienced a notable increase in open interest today. The latest open interest stands at 11,326 contracts, reflecting a rise of 1,308 contracts or 13.06% from the previous open interest of 10,018. The trading volume for the day reached 7,990, indicating active participation in the stock.
In terms of price performance, Alkem Laboratories has underperformed its sector by 1.54%, despite gaining 2.03% over the last two days. The stock reached an intraday high of Rs 5,012.95, marking a 2.56% increase during the session. While the stock is currently above its 20-day and 50-day moving averages, it remains below the 5-day, 100-day, and 200-day moving averages.

The Pharmaceuticals & Drugs sector overall has seen a gain of 2.51%. However, Alkem's delivery volume has decreased by 19.95% compared to its 5-day average, with a delivery volume of 42.18k on April 2. The stock maintains sufficient liquidity for trades sized at Rs 0.95 crore, based on 2% of the 5-day average traded value.

In summary, the significant rise in open interest for Alkem Laboratories highlights increased trading activity, amidst a mixed performance relative to its sector and market averages.