Glenmark Pharmaceuticals Sees 18.66% Surge in Open Interest Amid Increased Futures Activity

Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 39,148 contracts, up from the previous 32,993 contracts, marking a change of 6,155 contracts or an 18.66% increase. The trading volume for the stock reached 21,070 contracts, contributing to a total futures value of approximately Rs 83,607.76 lakhs.
Despite this surge in open interest, Glenmark's stock has underperformed its sector by 0.85%, with a 1.33% decline in its one-day return. The stock has been on a downward trend for the past two days, accumulating a total loss of 1.77% during this period. In terms of moving averages, Glenmark's stock is currently above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the stock has shown rising investor participation, with a delivery volume of 4.9 lakhs on October 23, reflecting a 30.89% increase compared to the 5-day average. Glenmark Pharmaceuticals, with a market capitalization of Rs 51,529.87 crore, remains a notable player in the Pharmaceuticals & Biotechnology industry. The increase in open interest highlights a shift in trading dynamics, warranting attention from market participants.