Glenmark Pharmaceuticals Sees 16.94% Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 43,153 contracts. Despite this, the stock has underperformed its sector and experienced a decline after previous gains. Delivery volume also increased, suggesting heightened liquidity in the market.
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 43,153 contracts, up from the previous figure of 36,902, marking a change of 6,251 contracts or a 16.94% increase. The trading volume for the day reached 56,507 contracts, indicating robust participation in the market.In terms of price performance, Glenmark Pharmaceuticals has underperformed its sector by 0.79%, with the stock falling after two consecutive days of gains. It touched an intraday low of Rs 1,956.7, representing a decline of 3.64%. The stock is currently positioned above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages, suggesting mixed momentum.
The broader Pharmaceuticals & Drugs sector has also seen a decline of 2.22%. Notably, Glenmark's delivery volume on September 25 was 469,000 shares, reflecting a 20.88% increase compared to the 5-day average, indicating a rise in liquidity. Overall, the increase in open interest alongside these performance metrics highlights a notable shift in trading dynamics for Glenmark Pharmaceuticals.
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