Syngene International Sees Significant Open Interest Surge Amid Active Trading Environment
Syngene International Ltd has seen a notable rise in open interest, reaching 11,810 contracts, alongside a trading volume of 5,528 contracts. The stock has outperformed its sector and is currently trading above several moving averages, despite a decline in delivery volume. The company maintains a market cap of Rs 29,697.17 crore.
Syngene International Ltd, a prominent player in the Pharmaceuticals & Drugs sector, has experienced a significant increase in open interest today. The latest open interest stands at 11,810 contracts, reflecting a rise of 1,165 contracts or 10.94% from the previous open interest of 10,645. This uptick in open interest comes alongside a trading volume of 5,528 contracts, indicating active market engagement.In terms of price performance, Syngene has outperformed its sector by 1.37%, marking a reversal after two consecutive days of decline. The stock reached an intraday high of Rs 741.25, representing a gain of 2.3%. Currently, the stock is trading above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Despite a notable drop in delivery volume, which fell by 38.55% compared to the 5-day average, the stock maintains sufficient liquidity for trading, with a market cap of Rs 29,697.17 crore. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Syngene International.
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