Piramal Pharma Sees Surge in Open Interest, Indicating Shift in Market Dynamics
Piramal Pharma Ltd has seen a notable rise in open interest, reaching 2,904 contracts, up from 1,748. The trading volume for the day was 4,919 contracts, with a futures value of around Rs 78.60 crore. Despite a drop in delivery volume, the stock remains liquid, indicating changing market dynamics.
Piramal Pharma Ltd (PPLPHARMA) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 2,904 contracts, a substantial rise from the previous open interest of 1,748 contracts, marking a change of 1,156 contracts or an impressive 66.13%. The trading volume for the day reached 4,919 contracts, contributing to a futures value of approximately Rs 78.60 crore.In terms of price performance, Piramal Pharma has shown resilience, gaining 2.32% over the last two days. The stock reached an intraday high of Rs 210.28, reflecting a 2.11% increase during the trading session. While the stock is currently above its 5-day and 20-day moving averages, it remains below the 50-day, 100-day, and 200-day moving averages, indicating mixed trends in its short to medium-term performance.
Despite a decline in delivery volume, which fell by 28.52% against the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 1.65 crore, based on 2% of the 5-day average traded value. Overall, the surge in open interest highlights a shift in market dynamics for Piramal Pharma, a large-cap player in the Pharmaceuticals and Biotechnology sector.
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