Glenmark Pharmaceuticals Sees 10.48% Rise in Open Interest to 35,584 Contracts

Glenmark Pharmaceuticals Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its trading. The latest open interest stands at 35,584 contracts, reflecting a rise of 3,375 contracts or 10.48% from the previous open interest of 32,209. This uptick comes alongside a trading volume of 15,328 contracts, contributing to a total futures value of approximately Rs 52,681.03 lakhs.
In terms of price performance, Glenmark Pharmaceuticals has underperformed its sector by 0.29%, with a one-day return of -0.10%. The stock is currently positioned above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages, indicating mixed short-term momentum. Additionally, the stock has seen a significant decline in delivery volume, which fell by 92.45% compared to the 5-day average, with a delivery volume of 31.03k on October 21.

With a market capitalization of Rs 52,308.74 crore, Glenmark Pharmaceuticals remains a mid-cap player in the Pharmaceuticals and Biotechnology industry. The increase in open interest may reflect changing dynamics in market sentiment, warranting close observation.