Sun Pharmaceutical Sees Surge in Open Interest Amid Increased Derivatives Activity
Sun Pharmaceutical Industries Ltd has seen a notable rise in open interest, reaching 104,226 contracts, alongside a trading volume of 32,713 contracts, indicating increased activity in the derivatives market. The stock has gained 0.79% today, maintaining a strong position in the Pharmaceuticals & Biotechnology sector despite a decline in delivery volume.
Sun Pharmaceutical Industries Ltd (SUNPHARMA) has experienced a significant increase in open interest today, reflecting notable activity in the derivatives market. The latest open interest stands at 104,226 contracts, up from the previous figure of 94,045, marking a change of 10,181 contracts or an increase of 10.83%. This uptick in open interest comes alongside a trading volume of 32,713 contracts, indicating heightened trading activity.In terms of price performance, Sun Pharmaceutical's stock has shown resilience, gaining 0.79% today, which is in line with the sector's performance of 1.06% and the Sensex's return of 0.84%. The stock has reversed its trend after two consecutive days of decline, currently trading above its 5-day moving average but below its 20-day, 50-day, 100-day, and 200-day moving averages.
Despite a decline in delivery volume, which fell by 16.74% compared to the 5-day average, the stock remains liquid enough for trades of approximately Rs 5.91 crore, based on 2% of the 5-day average traded value. With a market capitalization of Rs 4,00,125 crore, Sun Pharmaceutical continues to hold a strong position in the Pharmaceuticals & Biotechnology industry. The increase in open interest today highlights the ongoing market dynamics surrounding the stock.
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