Mankind Pharma Sees Significant Open Interest Surge Amidst Dynamic Trading Environment
Mankind Pharma Ltd has seen a significant rise in open interest, reaching 13,159 contracts, alongside a trading volume of 76,779 contracts. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined, with delivery volume down significantly.
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 13,159 contracts, marking a notable rise of 3,447 contracts or 35.49% from the previous open interest of 9,712. This surge in open interest coincides with a trading volume of 76,779 contracts, reflecting robust market activity.In terms of price performance, Mankind Pharma has outperformed its sector by 3.77%, with the stock gaining 4.75% over the last two days. Today, it reached an intraday high of Rs 2,543.6, representing a 4.6% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 72.57% compared to the 5-day average. The stock's liquidity remains adequate, with a trade size of Rs 4.88 crore based on 2% of the 5-day average traded value. Overall, Mankind Pharma's recent performance highlights a dynamic trading environment, underscored by the notable increase in open interest.
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