Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 32,026 contracts, alongside a trading volume of 28,845 contracts. The stock has outperformed its sector and is trading above multiple moving averages, indicating a positive price trend, 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 32,026 contracts, up from the previous 28,749 contracts, marking a change of 3,277 contracts or an 11.4% increase. The trading volume for the day reached 28,845 contracts, indicating robust engagement in the stock.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 2.42%, with the stock reaching an intraday high of Rs 2,054.1, reflecting a gain of 3.17% for the day. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.
Despite a decline in delivery volume, which fell by 9.55% against the 5-day average, the stock remains liquid enough for trades sized at Rs 2.26 crore, based on 2% of the 5-day average traded value. Glenmark Pharmaceuticals, with a market capitalization of Rs 57,490 crore, continues to navigate the pharmaceuticals and biotechnology landscape with notable trading activity.
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