Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a significant rise in open interest, reaching 41,158 contracts, alongside a trading volume of 28,633 contracts. Despite this activity, the stock has underperformed, experiencing a decline over the past two days. The company maintains a market capitalization of Rs 58,756 crore.
Glenmark Pharmaceuticals Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its trading. The latest open interest stands at 41,158 contracts, reflecting a rise of 4,644 contracts or 12.72% from the previous open interest of 36,514. The trading volume for the day reached 28,633 contracts, contributing to a total futures value of approximately Rs 44,521.11 lakhs.Despite this surge in open interest, Glenmark's stock has underperformed relative to its sector, showing a decline of 2.11% today. Over the past two days, the stock has faced consecutive losses, with a total drop of 4.11%. The stock touched an intraday low of Rs 2,016.4, down 3.3% from the previous close.
In terms of moving averages, the stock is currently above its 20-day, 100-day, and 200-day moving averages, yet below its 5-day and 50-day averages. Additionally, delivery volume has increased by 6.45% compared to the 5-day average, indicating a rise in investor participation. Overall, Glenmark Pharmaceuticals remains a mid-cap player in the Pharmaceuticals & Biotechnology sector, with a market capitalization of Rs 58,756 crore.
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