Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest and trading volume, indicating increased market activity. The stock has outperformed its sector slightly and experienced a significant increase in delivery volume. Despite this, it is trading below key moving averages, suggesting mixed short-term performance.
Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 39,642 contracts, up from the previous 33,008, marking a change of 6,634 contracts or a 20.1% increase. The trading volume for the day reached 32,499 contracts, contributing to a total futures value of approximately Rs 79,790 lakhs.In terms of price performance, Glenmark Pharmaceuticals has outperformed its sector by 1.2%, recovering from three consecutive days of decline. The stock reached an intraday high of Rs 1,373.4, representing a gain of 2.31%. However, it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a mixed trend in its short-term performance.
Additionally, the stock has seen a notable rise in delivery volume, with 668,000 shares delivered on April 17, reflecting a 75.54% increase compared to the 5-day average. With a market capitalization of Rs 38,673.89 crore, Glenmark Pharmaceuticals remains a significant player in the pharmaceuticals and drugs industry. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Glenmark Pharmaceuticals.
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