Lupin Ltd. Sees 10.93% Rise in Open Interest Amid Declining Stock Performance

Lupin Ltd., a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 45,931 contracts, reflecting a rise of 4,524 contracts or 10.93% from the previous open interest of 41,407. This uptick in open interest comes alongside a trading volume of 20,522 contracts, indicating active participation in the derivatives market.
In terms of overall market performance, Lupin's stock has underperformed its sector by 0.29%, continuing a trend of decline over the past four days, during which it has recorded a total return of -1.11%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.

Additionally, the delivery volume on October 24 was 273,000 shares, which marks a significant decrease of 32.24% compared to the 5-day average delivery volume. Despite these challenges, the stock remains liquid enough for trades sized at Rs 2.43 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest for Lupin Ltd. highlights a shift in market dynamics, warranting attention from market participants.