Mankind Pharma Sees Surge in Open Interest Amid Active Trading Environment
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 9,797 contracts, alongside a trading volume of 34,578. The stock has outperformed its sector and is trading above several moving averages, despite a significant drop in delivery volume, indicating a shift in investor engagement.
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 9,797 contracts, reflecting a rise of 1,339 contracts or 15.83% from the previous open interest of 8,458. This surge is accompanied by a trading volume of 34,578, indicating robust activity in the derivatives market.In terms of price performance, Mankind Pharma has outperformed its sector by 2.87%, reaching an intraday high of Rs 2,462.5, which marks a 4.27% increase for the day. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Despite this positive price movement, there has been a notable decline in investor participation, with delivery volume dropping by 73.61% compared to the 5-day average. The stock's liquidity remains adequate, with a trade size of Rs 5.08 crore based on 2% of the 5-day average traded value.
In summary, Mankind Pharma's notable increase in open interest and solid price performance today highlights the stock's active trading environment, while the decline in delivery volume suggests a shift in investor engagement.
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