Glenmark Pharmaceuticals Sees 23.4% Surge in Open Interest to 40,715 Contracts

Glenmark Pharmaceuticals Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 40,715 contracts, up from the previous figure of 32,993, marking a change of 7,722 contracts or a 23.4% increase. The trading volume for the stock reached 25,439 contracts, indicating robust participation in the market.
In terms of price performance, Glenmark Pharmaceuticals has underperformed its sector by 1.03%, with a 1D return of -1.65%. The stock has been on a downward trend, recording losses for the past two days, resulting in a total decline of 1.79% during this period. Notably, the stock is currently trading above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages.

Investor participation has seen a rise, with a delivery volume of 4.9 lakh shares on October 23, reflecting a 30.89% increase compared to the 5-day average. The stock's liquidity remains adequate for trading, with a market cap of Rs 51,363.37 crore, categorizing it as a mid-cap stock. Overall, the notable increase in open interest highlights a shift in market dynamics for Glenmark Pharmaceuticals.