Syngene International Sees Significant Rise in Open Interest Amid Increased Market Activity

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 24,098 contracts, reflecting a rise of 3,172 contracts or 15.16% from the previous open interest of 20,926. This uptick comes alongside a trading volume of 13,348 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Syngene's stock closed at Rs 638.05, which is approximately 4.95% away from its 52-week low of Rs 607.65. The stock has been under pressure, having fallen 2.20% today, and has underperformed its sector by 1.51%. Over the past two days, it has recorded a cumulative decline of 14.66%. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.

Despite these challenges, there has been a notable rise in delivery volume, which surged by 4,054.7% compared to the 5-day average, indicating increased participation in the stock. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Syngene International.