Glenmark Pharmaceuticals Sees 17.02% Surge in Open Interest Amid Price Decline
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 43,182 contracts, alongside a trading volume of 48,525 contracts. Despite a decline in stock price, it remains above key moving averages. The broader Pharmaceuticals & Drugs sector has also experienced a downturn. Glenmark's market capitalization stands at Rs 55,506.08 crore.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 43,182 contracts, up from the previous 36,902, marking a change of 6,280 contracts or a 17.02% increase. The trading volume for the day reached 48,525 contracts, indicating robust participation in the market.In terms of price performance, Glenmark's stock has underperformed its sector by 0.93%, with a current price of Rs 1,968. The stock touched an intraday low of Rs 1,964.4, representing a decline of 3.26%. 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 broader Pharmaceuticals & Drugs sector has also seen a downturn, falling by 2.21%. Notably, Glenmark's delivery volume on September 25 was 469,000 shares, reflecting a 20.88% increase compared to the 5-day average. With a market capitalization of Rs 55,506.08 crore, Glenmark Pharmaceuticals continues to be a notable player in the mid-cap segment of the pharmaceuticals and biotechnology industry.
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