Syngene International Sees 16.92% Surge in Open Interest Amid Trading Activity
Syngene International Ltd has reported a significant increase in open interest, reaching 18,467 contracts. The trading volume for the day was 8,089 contracts, contributing to a total value of approximately Rs 32,279.44 lakhs. However, the stock has underperformed its sector and is on a downward trend.
Syngene International Ltd, a small-cap player in the healthcare services sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 18,467 contracts, reflecting a significant rise of 2,672 contracts or 16.92% from the previous OI of 15,795. The trading volume for the day reached 8,089 contracts, contributing to a futures value of approximately Rs 32,174.91 lakhs and an options value of around Rs 2,047.44 crores, bringing the total value to Rs 32,279.44 lakhs. The underlying value of the stock is reported at Rs 638.Despite this uptick in OI, Syngene International has underperformed its sector, with a 1D return of -0.45%, compared to the sector's -0.41% and the Sensex's -0.28%. The stock has been on a downward trend, losing ground for four consecutive days, resulting in a total decline of 4.12% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.
In summary, while Syngene International has seen a rise in open interest, the overall performance metrics suggest ongoing challenges in the current market environment.
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