Lupin Ltd. Sees Significant Open Interest Surge Amid Active Market Participation
Lupin Ltd. has seen a notable increase in open interest, reaching 45,415 contracts, alongside a trading volume of 45,854 contracts, indicating heightened market activity. Despite this, the stock has underperformed its sector and experienced a trend reversal after five days of gains, while delivery volume surged significantly.
Lupin Ltd., a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest today. The latest open interest stands at 45,415 contracts, reflecting a rise of 4,919 contracts or 12.15% from the previous open interest of 40,496. This uptick coincides with a trading volume of 45,854 contracts, indicating active market participation.In terms of financial metrics, the stock's performance today has underperformed its sector by 0.81%, with a 1-day return of -0.69%. Notably, the stock has seen a trend reversal, having fallen after five consecutive days of gains. While it remains above its 5-day, 20-day, and 50-day moving averages, it is trading below its 100-day and 200-day moving averages.
Additionally, the delivery volume on May 15 reached 834,000 shares, marking a substantial increase of 79.82% compared to the 5-day average delivery volume. The liquidity of the stock is also noteworthy, with a trade size of Rs 4.18 crore based on 2% of the 5-day average traded value.
In summary, the notable rise in open interest for Lupin Ltd. highlights increased trading activity, although the stock has faced recent downward pressure in its price performance.
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