Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a significant rise in open interest, reaching 32,241 contracts, alongside a trading volume of 39,406 contracts. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined slightly in recent sessions.
Glenmark Pharmaceuticals Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its trading. The latest open interest stands at 32,241 contracts, reflecting a rise of 3,492 contracts or 12.15% from the previous open interest of 28,749. The trading volume for the day reached 39,406 contracts, contributing to a futures value of approximately Rs 38,418.17 lakhs.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 2.94%, with the stock hitting an intraday high of Rs 2,055.20, marking a 3.23% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend in its price trajectory.
However, it is worth noting a decline in investor participation, as the delivery volume on September 4 fell by 9.55% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 2.26 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and solid price performance highlight significant trading activity in Glenmark Pharmaceuticals today.
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