Mankind Pharma Sees Significant Open Interest Surge Amid Increased Trading Activity
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 13,869 contracts, alongside a trading volume of 61,037. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined significantly. The company maintains a large market capitalization.
Mankind Pharma Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 13,869 contracts, reflecting a notable rise of 4,157 contracts or 42.8% from the previous OI of 9,712. This surge in OI coincides with a trading volume of 61,037, indicating heightened activity in the stock.In terms of price performance, Mankind Pharma has outperformed its sector by 4.1%, with the stock gaining 5.09% over the last two days. Today, it reached an intraday high of Rs 2,538.3, marking a 4.38% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting 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 maintains a market capitalization of Rs 1,04,271.79 crore, categorizing it as a large-cap entity. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Mankind Pharma.
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