Alkem Laboratories Sees 14.35% Surge in Open Interest to 19,352 Contracts

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 19,352 contracts, reflecting a rise of 2,428 contracts or 14.35% from the previous open interest of 16,924. This surge in open interest comes alongside a trading volume of 9,839 contracts, indicating active participation in the market.
In terms of price performance, Alkem Laboratories has underperformed its sector by 0.37%, with a one-day return of -0.98%. Despite this, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive trend in the longer term. However, it is noteworthy that the stock has seen a decline after two consecutive days of gains.

Additionally, the delivery volume has decreased significantly, falling by 49% compared to the 5-day average, which may indicate a shift in trading dynamics. The liquidity remains adequate for a trade size of Rs 3.26 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market activity for Alkem Laboratories, amidst a backdrop of mixed performance metrics.