Lupin Ltd. Sees Significant Open Interest Surge Amid Ongoing Stock Performance Challenges

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 56,606 contracts, reflecting a notable rise of 9,671 contracts or 20.61% from the previous open interest of 46,935. This surge comes alongside a trading volume of 19,845 contracts, indicating active market participation.
Despite this uptick in open interest, Lupin's stock has underperformed relative to its sector, with a decline of 0.73% today. The stock has faced consecutive losses over the past two days, resulting in a total return of -1.73% during this period. Currently, Lupin is 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 stock's delivery volume has decreased significantly, with a reported delivery volume of 4.19 lakh shares on May 27, down 44.45% compared to the 5-day average. With a market capitalization of Rs 89,387.25 crore, Lupin remains a large-cap entity in the market. Overall, the increase in open interest highlights a shift in market dynamics, even as the stock grapples with recent performance challenges.