Sun Pharmaceutical Sees Surge in Open Interest Amid Increased Market Activity
Sun Pharmaceutical Industries Ltd has seen a notable rise in open interest, reaching 69,890 contracts, alongside a trading volume of 62,053 contracts. The stock has outperformed its sector, gaining 4.78% over two days, and is trading above key moving averages, indicating strong market activity and liquidity.
Sun Pharmaceutical Industries Ltd (SUNPHARMA) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 69,890 contracts, up from the previous figure of 62,143, marking a change of 7,747 contracts or a 12.47% increase. The trading volume for the day reached 62,053 contracts, indicating robust participation in the market.In terms of price performance, Sun Pharma has outperformed its sector by 1.38%, with the stock gaining 4.78% over the last two days. Today, it opened with a gain of 2.41% and reached an intraday high of Rs 1,812.7, reflecting a rise of 5.78%. 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.
The pharmaceuticals and drugs sector has also seen a gain of 2.35%, contributing to the overall positive sentiment. Notably, the delivery volume on April 2 was 26.1 lakh shares, up 54.45% compared to the 5-day average, indicating increased liquidity. Overall, the activity in Sun Pharmaceutical Industries today highlights a notable shift in market dynamics without indicating future price movements.
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