Glenmark Pharmaceuticals Sees 16.53% Surge in Open Interest, Reaching 43,003 Contracts
Glenmark Pharmaceuticals Ltd. has seen a significant rise in open interest, reaching 43,003 contracts, alongside a trading volume of 43,717 contracts. Despite a slight decline in stock price, the company’s delivery volume has increased, indicating heightened trading activity and a notable shift in market dynamics.
Glenmark Pharmaceuticals Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 43,003 contracts, up from the previous 36,902, marking a change of 6,101 contracts or a 16.53% increase. The trading volume for the day reached 43,717 contracts, indicating robust participation in the market.In terms of price performance, Glenmark's stock has underperformed its sector by 0.52%, with a current underlying value of Rs 1,979. The stock touched an intraday low of Rs 1,971.9, representing a decline of 2.9%. Despite this, the stock remains above its 100-day and 200-day moving averages, although it is trading below its 5-day, 20-day, and 50-day moving averages.
The pharmaceuticals and drugs sector has also seen a decline of 2.16% today. Notably, Glenmark's delivery volume has increased by 20.88% compared to its 5-day average, suggesting a rise in trading activity. Overall, the increase in open interest alongside the trading metrics highlights a significant shift in market dynamics for Glenmark Pharmaceuticals.
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