Mankind Pharma Sees Significant Open Interest Surge Amid Increased Trading Activity
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 1,829 contracts, alongside a trading volume of 768 contracts, indicating increased activity in the derivatives market. The stock has also experienced a significant increase in delivery volume, suggesting a shift in trading dynamics amid current market conditions.
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 1,829 contracts, marking a rise of 244 contracts or 15.39% from the previous open interest of 1,585. This uptick in open interest comes alongside a trading volume of 768 contracts, indicating heightened activity in the derivatives market.In terms of financial metrics, Mankind Pharma's underlying value is reported at Rs 2,436, while the total futures and options value is approximately Rs 2,193.10 lakhs. Despite this notable increase in open interest, the stock has underperformed its sector by 1.02% today, with a 1-day return of -1.30%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a bearish trend in the short to medium term.
Additionally, the stock has seen a substantial rise in delivery volume, with 399,000 shares delivered on May 30, representing a 256.33% increase compared to the 5-day average. This data suggests a shift in trading dynamics for Mankind Pharma, highlighting the current market conditions without making any predictions about future performance.
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