Mankind Pharma Sees Significant Surge in Open Interest Amid Active Market Participation
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 10,726 contracts, alongside a trading volume of 8,155 contracts. Despite a slight price gain, the stock trades below key moving averages, and delivery volume has significantly decreased, indicating changing market dynamics for the company.
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 10,726 contracts, reflecting a rise of 1,957 contracts or 22.32% from the previous open interest of 8,769. This surge in open interest comes alongside a trading volume of 8,155 contracts, indicating active participation in the market.In terms of price performance, Mankind Pharma has shown a modest gain of 0.62% over the past two days, with a current stock price reflecting a narrow trading range of Rs 21.4. Despite this recent uptick, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a potential challenge in maintaining upward momentum.
Additionally, the stock's delivery volume has seen a notable decline, with a reported delivery volume of 1.35 lakh on June 23, down by 58.35% compared to the 5-day average. With a market capitalization of Rs 95,117.47 crore, Mankind Pharma remains a significant entity in its industry. Overall, the increase in open interest highlights a shift in market dynamics, warranting attention from market participants.
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