Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Strong Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 32,326 contracts. The stock has outperformed its sector and is trading above key moving averages, although delivery volume has decreased compared to recent averages.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 32,326 contracts, up from the previous figure of 28,749, marking a change of 3,577 contracts or a 12.44% increase. The trading volume for the day reached 34,585 contracts, indicating robust market engagement.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 2.86%, 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 strong upward trend in its price trajectory.
Despite this positive momentum, there has been a noted decline in delivery volume, which fell by 9.55% compared to the 5-day average, with a total delivery volume of 2.25 lakh shares recorded on September 4. The stock's liquidity remains favorable, accommodating trade sizes of Rs 2.26 crore based on 2% of the 5-day average traded value.
In summary, Glenmark Pharmaceuticals is witnessing a notable spurt in open interest alongside solid price performance, while also facing a slight decline in delivery participation.
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