Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Strong Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 53,179 contracts, alongside a trading volume of 35,391 contracts. The stock achieved a new all-time high of Rs 1,879.4, reflecting strong momentum and performance relative to its historical trends, despite a decline in delivery volume.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 53,179 contracts, up from the previous 47,941 contracts, marking a change of 5,238 contracts or a 10.93% increase. The trading volume for the day reached 35,391 contracts, contributing to a total futures value of approximately Rs 36,672.34 lakhs.In terms of price performance, Glenmark Pharmaceuticals hit a new 52-week and all-time high of Rs 1,879.4, representing a 2.68% increase for the day. The stock has shown strong momentum, gaining for six consecutive days and delivering an overall return of 8.98% during this period. Notably, Glenmark is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating robust performance relative to its historical price trends.
Despite a decline in delivery volume, which fell by 20.13% against the 5-day average, the stock remains liquid enough for trades of Rs 2.27 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and strong price performance underscores Glenmark Pharmaceuticals' current market position within the pharmaceuticals and biotechnology sector.
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