Glenmark Pharmaceuticals Sees Surge in Open Interest Amid Increased Trading Activity
Glenmark Pharmaceuticals Ltd. has seen a notable rise in open interest, reaching 36,095 contracts, alongside a trading volume of 22,413 contracts. The stock has outperformed its sector slightly, despite recent declines, and has experienced a significant increase in delivery volume, indicating heightened trading 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 36,095 contracts, up from the previous 29,660, marking a change of 6,435 contracts or a 21.7% increase. The trading volume for the stock reached 22,413 contracts, contributing to a total futures value of approximately Rs 66,286 lakhs.In terms of performance, Glenmark Pharmaceuticals has outperformed its sector by 0.58%, despite facing a decline of 2.26% over the last two days. The stock's weighted average price indicates that more volume was traded closer to its low price, suggesting a shift in trading dynamics. While the stock remains above its 5-day, 20-day, and 50-day moving averages, it is currently below its 100-day and 200-day moving averages.
Additionally, the stock has seen a notable rise in delivery volume, which increased by 146.2% compared to the 5-day average, indicating a growing level of participation. With a market capitalization of Rs 41,864 crore, Glenmark Pharmaceuticals continues to maintain a liquid trading environment, suitable for transactions up to Rs 1.65 crore. Overall, the increase in open interest highlights a notable shift in trading activity for Glenmark Pharmaceuticals.
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