Surge in Open Interest for Sun Pharmaceutical Signals Increased Futures Market Activity
Sun Pharmaceutical Industries Ltd has seen a notable rise in open interest, reaching 103,800 contracts, alongside a trading volume of 49,907 contracts. The stock has shown resilience with a 1.39% gain over four days, despite a decline in delivery volume, indicating active participation in its derivatives market.
Sun Pharmaceutical Industries Ltd (symbol: SUNPHARMA) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 103,800 contracts, up from the previous 94,347, marking a change of 9,453 contracts or a 10.02% increase. This surge coincides with a trading volume of 49,907 contracts, indicating robust participation in the stock's derivatives.In terms of price performance, Sun Pharmaceutical has shown resilience, gaining 1.39% over the past four days. The stock has traded within a narrow range of Rs 12.5 today, aligning its performance with the broader pharmaceuticals and biotechnology sector, which recorded a 0.11% increase. Notably, the stock's current price is above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day averages.
Despite a decline in delivery volume, which fell by 37.12% compared to the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 5.01 crore, based on 2% of the 5-day average traded value. Overall, the notable rise in open interest for Sun Pharmaceutical Industries underscores a dynamic trading environment, reflecting the stock's current market position.
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