Mankind Pharma Sees Surge in Open Interest Amidst Declining Stock Performance
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 7,809 contracts, alongside a trading volume of 7,461 contracts. Despite this increase, the company has underperformed in its sector and is trading below key moving averages, indicating a challenging market environment.
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 7,809 contracts, reflecting a rise of 844 contracts or 12.12% from the previous open interest of 6,965. This uptick comes alongside a trading volume of 7,461 contracts, indicating active market participation.In terms of financial metrics, Mankind Pharma's futures value is reported at approximately Rs 6,802.60 lakhs, while the options value is notably higher at around Rs 3,302.81 crore, bringing the total value to Rs 7,014.34 lakhs. The underlying value of the stock is recorded at Rs 2,291.
Despite this surge in open interest, Mankind Pharma has underperformed its sector by 1.78% today, with a 1D return of -1.63%. The stock has been on a downward trend, losing 2.82% over the past two days. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.
Overall, the notable increase in open interest highlights a shift in trading dynamics for Mankind Pharma, amidst a backdrop of declining stock performance.
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