Syngene International Sees 11.76% Surge in Open Interest to 15,749 Contracts

Syngene International Ltd, a small-cap player in the healthcare services sector, has experienced a notable increase in open interest today. The latest open interest stands at 15,749 contracts, reflecting a rise of 1,657 contracts or 11.76% from the previous open interest of 14,092. This uptick comes alongside a trading volume of 29,187 contracts, indicating active participation in the market.
In terms of price performance, Syngene has outperformed its sector by 1.14%, with the stock gaining 3.31% over the last two days. Today, it reached an intraday high of Rs 655.95, marking a 4.09% increase. However, it is important to note that the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a potential divergence from longer-term trends.

Additionally, the delivery volume on November 10 was recorded at 1.87 lakh shares, which represents a significant decline of 72.86% compared to the 5-day average delivery volume. Despite this, the stock remains liquid enough for trades sized at Rs 1.57 crore, based on 2% of the 5-day average traded value.

In summary, the increase in open interest for Syngene International highlights a shift in market dynamics, while the stock's recent performance reflects a complex interplay of factors within the healthcare services industry.