Surge in Open Interest Signals Dynamic Trading Environment for Mankind Pharma Ltd
Mankind Pharma Ltd has seen a notable rise in open interest, reaching 13,972 contracts, alongside a trading volume of 49,703 contracts. The stock has outperformed its sector and achieved an intraday high of Rs 2,538.3, although investor participation has declined significantly in recent days.
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 13,972 contracts, marking a notable rise of 4,260 contracts or 43.86% from the previous OI of 9,712. This surge in OI coincides with a trading volume of 49,703 contracts, indicating heightened activity in the stock.In terms of price performance, Mankind Pharma has outperformed its sector by 3.42%, with the stock gaining 4.41% over the last two days. Today, it reached an intraday high of Rs 2,538.3, reflecting a 4.38% increase. The stock's current price is above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
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 1,03,859.06 crore, affirming its large-cap status. Overall, the increase in open interest alongside the stock's recent performance highlights a dynamic trading environment for Mankind Pharma.
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