Surge in Open Interest Signals Increased Trading Activity for Sun Pharmaceutical Industries
Sun Pharmaceutical Industries Ltd has seen a notable rise in open interest, reaching 90,420 contracts, alongside a trading volume of 42,050 contracts. The stock has gained slightly today and has been on an upward trend for four days, despite a decline in delivery volume. Its market cap positions it as a large-cap entity in the Pharmaceuticals & Biotechnology sector.
Sun Pharmaceutical Industries Ltd (symbol: SUNPHARMA) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 90,420 contracts, up from the previous open interest of 76,936 contracts, marking a change of 13,484 contracts or a 17.53% increase. The trading volume for the day reached 42,050 contracts, indicating robust engagement in the market.In terms of price performance, Sun Pharmaceutical has shown a slight gain of 0.32% today, aligning closely with the sector's performance, which recorded a 0.35% increase. The stock has been on an upward trend for the past four days, accumulating a total return of 1.27% during this period. However, it has traded within a narrow range of Rs 15.2, and while it is currently above its 5-day moving averages, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages.
Despite a decline in delivery volume by 5.38% compared to the 5-day average, the stock maintains sufficient liquidity for trades, with a market cap of Rs 3,95,194.46 crore, categorizing it as a large-cap entity in the Pharmaceuticals & Biotechnology industry. Overall, the increase in open interest highlights a shift in market dynamics for Sun Pharmaceutical Industries, reflecting heightened trading activity.
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