Mankind Pharma Sees Significant Surge in Open Interest Amidst Market Activity
Mankind Pharma Ltd has seen a significant rise in open interest, reaching 10,183 contracts, alongside a trading volume of 5,284 contracts, indicating increased activity in the derivatives market. Despite this, the stock has underperformed its sector and experienced a notable decline in delivery volume.
Mankind Pharma Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has recently experienced a notable increase in open interest (OI). The latest OI stands at 10,183 contracts, reflecting a rise of 1,414 contracts or 16.12% from the previous OI of 8,769. This surge in OI comes alongside a trading volume of 5,284 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Mankind Pharma has underperformed its sector by 0.43% today, despite achieving a modest gain of 0.93% over the last two days. The stock has been trading within a narrow range of Rs 20, and it is currently positioned below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has seen a significant decline, dropping by 58.35% compared to the 5-day average, which suggests a decrease in investor participation.
With a market capitalization of Rs 95,134 crore, Mankind Pharma remains a significant entity in its industry. The recent developments in open interest and trading metrics highlight the stock's current market dynamics, reflecting ongoing activity without indicating future trends.
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