Mankind Pharma Sees Significant Surge in Open Interest Amid Increased Trading Activity

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 15,308 contracts, reflecting a notable rise of 4,131 contracts or 36.96% from the previous open interest of 11,177. This surge is accompanied by a trading volume of 37,665 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Mankind Pharma has outperformed its sector by 0.5%, reaching an intraday high of Rs 2,561, which represents a 3.85% increase. The stock's weighted average price suggests that more volume was traded closer to its lower price points. While the stock is currently above its 50-day and 100-day moving averages, it remains below the 5-day, 20-day, and 200-day moving averages.

Despite a decline in delivery volume, which has fallen by 41.61% against the 5-day average, Mankind Pharma maintains sufficient liquidity for trades sized at Rs 2.87 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Mankind Pharma, reflecting heightened trading activity without indicating future price movements.