Lupin Ltd. Sees Significant Surge in Open Interest Amid Increased Trading Activity
Lupin Ltd. has seen a significant rise in open interest, reaching 34,247 contracts, alongside a trading volume of 31,158 contracts. Despite a slight decline in price performance, the stock remains above several moving averages and has experienced a notable increase in delivery volume, indicating active market engagement.
Lupin Ltd., a prominent player in the Pharmaceuticals & Drugs sector, has experienced a notable increase in open interest today. The latest open interest stands at 34,247 contracts, reflecting a rise of 3,131 contracts or 10.06% from the previous open interest of 31,116. This surge coincides with a trading volume of 31,158 contracts, indicating heightened activity in the stock.In terms of price performance, Lupin has underperformed its sector by 0.79%, with a 1-day return of -0.22%. The stock has recently seen a trend reversal, having fallen after three 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, suggesting mixed momentum.
Additionally, the stock's delivery volume reached 615,000 on May 13, marking a significant increase of 72.83% compared to the 5-day average delivery volume. With a market capitalization of Rs 94,053.87 crore, Lupin continues to maintain liquidity suitable for trades up to Rs 1.3 crore, based on 2% of its 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Lupin Ltd.
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