Lupin Ltd. Sees 14.4% Surge in Open Interest Amid Increased Trading Activity

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 46,895 contracts, reflecting a rise of 5,904 contracts or 14.4% from the previous open interest of 40,991. This uptick in open interest comes alongside a trading volume of 29,553 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Lupin's stock has shown a modest one-day return of 0.80%, slightly outperforming the sector's return of 0.72% and the Sensex's return of 0.43%. The stock has recently reversed a five-day downward trend, trading within a narrow range of Rs 19. However, it remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a cautious market sentiment.

Additionally, the delivery volume on October 28 reached 3.8 lakh shares, marking a 13.75% increase compared to the five-day average, which points to rising investor participation. With a market capitalization of Rs 88,341.54 crore, Lupin continues to maintain a liquid trading environment, suitable for transactions of up to Rs 1.78 crore. Overall, the notable increase in open interest highlights a shift in market dynamics for Lupin Ltd.