Mankind Pharma Sees Significant Open Interest Surge Amid Increased Derivatives Activity

Mankind Pharma Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest today. The latest open interest stands at 5,571 contracts, reflecting a rise of 608 contracts or 12.25% from the previous open interest of 4,963. This uptick in open interest coincides with a trading volume of 9,450 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Mankind Pharma has underperformed its sector by 0.69% today, with a modest one-day return of 0.24%. Over the past three days, the stock has shown a cumulative gain of 1.07%. While the stock is currently trading above its 5-day moving average, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting mixed momentum in the short to medium term.

Additionally, the stock has seen a notable increase in delivery volume, which reached 419,000 shares on June 10, marking an 81.69% rise compared to the 5-day average. With a market capitalization of Rs 98,302.37 crore, Mankind Pharma continues to maintain a liquid trading environment, suitable for transactions of Rs 1.69 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Mankind Pharma.