Alkem Laboratories Sees 32.72% Surge in Open Interest to 21,666 Contracts

Alkem Laboratories Ltd, a mid-cap player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest today. The latest open interest stands at 21,666 contracts, marking a notable rise of 5,342 contracts or 32.72% from the previous open interest of 16,324. This surge in open interest comes alongside a trading volume of 12,820 contracts, indicating heightened activity in the stock.
In terms of price performance, Alkem Laboratories has underperformed its sector by 0.78%, with a one-day return of -1.01%. The stock is currently trading above its 50-day, 100-day, and 200-day moving averages, yet it remains below its 5-day and 20-day moving averages. Notably, the delivery volume on October 24 reached 82,930 shares, reflecting a 47.23% increase compared to the 5-day average delivery volume, suggesting a rise in trading engagement.

With a market capitalization of Rs 65,629.23 crore, Alkem Laboratories continues to maintain a liquid trading environment, suitable for transactions around Rs 0.79 crore based on 2% of the 5-day average traded value. The increase in open interest highlights a shift in market dynamics, warranting attention from market participants.