Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a significant rise in open interest, reaching 32,295 contracts, alongside a trading volume of 36,774 contracts. The stock has outperformed its sector and is trading above key moving averages, although there is a noted decline in delivery volume compared to recent averages.
Glenmark Pharmaceuticals Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 32,295 contracts, up from the previous figure of 28,749, marking a change of 3,546 contracts or a 12.33% increase. The trading volume for the day reached 36,774 contracts, indicating robust engagement in the stock.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 2.54%, with the stock touching an intraday high of Rs 2,055.2, representing a 3.23% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
Despite this positive performance, there has been a decline in investor participation, with delivery volume dropping by 9.55% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 2.26 crore based on 2% of the 5-day average traded value.
In summary, Glenmark Pharmaceuticals is witnessing significant trading activity, characterized by increased open interest and solid price performance, while also facing a slight decline in delivery volume.
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