Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Market Activity
Glenmark Pharmaceuticals Ltd. has seen a notable 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 multiple moving averages, indicating a positive trend, despite a decline in delivery volume.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in the stock. 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 participation in the market.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 3.21%, with the stock hitting 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 positive trend in its price movement.
Despite a decline in delivery volume, which fell by 9.55% against the 5-day average, the stock remains liquid enough for trades of Rs 2.26 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 57,490 crore, Glenmark Pharmaceuticals continues to maintain a solid position within the pharmaceuticals and biotechnology sector. Overall, the increase in open interest highlights a notable shift in market dynamics for Glenmark Pharmaceuticals.
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