Glenmark Pharmaceuticals Sees Significant Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 40,379 contracts, alongside a trading volume of 19,146 contracts. The stock has outperformed its sector and is trading above several key moving averages, despite a significant decline in delivery volume. The company maintains a strong market capitalization.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 40,379 contracts, up from the previous figure of 36,480, marking a change of 3,899 contracts or a 10.69% increase. This uptick in open interest coincides with a trading volume of 19,146 contracts, indicating robust market engagement.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 0.73%, with a one-day return of 0.96%. The stock is currently trading above its 50-day, 100-day, and 200-day moving averages, although it remains below its 5-day and 20-day moving averages. Notably, the stock has seen a decline in delivery volume, which has fallen by 60.98% compared to the 5-day average, with a delivery volume of 2.55 lakh shares recorded on August 22.
With a market capitalization of Rs 55,195.66 crore, Glenmark Pharmaceuticals continues to maintain a liquid trading environment, suitable for transactions up to Rs 4.27 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in trading dynamics for Glenmark Pharmaceuticals.
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