Laurus Labs Sees Surge in Open Interest Amid Increased Market Activity
Laurus Labs Ltd has seen a notable rise in open interest, reaching 26,512 contracts, alongside a trading volume of 28,028 contracts, indicating heightened market activity. The stock achieved a new 52-week high but has faced recent price declines, while maintaining strong liquidity and trading above key moving averages.
Laurus Labs Ltd, a prominent player in the Pharmaceuticals & Drugs industry, has experienced a significant increase in open interest today. The latest open interest stands at 26,512 contracts, reflecting a rise of 3,146 contracts or 13.46% from the previous open interest of 23,366. This uptick comes alongside a trading volume of 28,028 contracts, indicating active participation in the market.In terms of price performance, Laurus Labs reached a new 52-week high of Rs 660.9 today. However, the stock has underperformed its sector by 1.97%, marking a consecutive decline over the last two days with a total drop of 1.23%. The stock's intraday low was recorded at Rs 631.5, representing a decrease of 2.95% from the previous close.
Despite the recent price fluctuations, Laurus Labs is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong underlying trend. The stock's liquidity remains robust, with a delivery volume of 10.36 lakh shares on April 23, which is an 8.75% increase compared to the 5-day average delivery volume. Overall, the notable rise in open interest highlights increased market activity surrounding Laurus Labs, reflecting the dynamics of investor engagement in the stock.
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