Mankind Pharma Sees 12.98% Surge in Open Interest Amid Trading Activity

Mankind Pharma Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest today. The latest open interest stands at 15,254 contracts, reflecting a rise of 1,752 contracts or 12.98% from the previous open interest of 13,502. This uptick in open interest comes alongside a trading volume of 15,126 contracts, indicating active participation in the market.
Despite this increase in open interest, Mankind Pharma's stock has underperformed relative to its sector, showing a decline of 1.79% today, compared to a sector return of -0.48%. The stock opened lower, with a gap down of 2.56%, and reached an intraday low of Rs 2,248.6, marking a decrease of 2.62% during the trading session. Over the past three days, the stock has seen a cumulative decline of 5.48%.

Additionally, Mankind Pharma is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. However, there has been a rise in delivery volume, which increased by 42.69% against the 5-day average, suggesting heightened investor participation. The stock's market capitalization is approximately Rs 93,494 crore, positioning it firmly within the large-cap category. Overall, the increase in open interest amidst a challenging trading environment highlights the dynamic nature of Mankind Pharma's market activity.