Syngene International Sees Significant Surge in Open Interest Amid Increased Trading Activity
Syngene International Ltd has seen a notable rise in open interest, reaching 19,084 contracts, alongside a trading volume of 9,126 contracts, indicating increased activity in the derivatives market. Despite recent gains, the stock is trading below several key moving averages, with a decline in delivery volume noted.
Syngene International Ltd, a prominent player in the Healthcare Services sector, has experienced a significant increase in open interest today. The latest open interest stands at 19,084 contracts, marking a rise of 2,922 contracts or 18.08% from the previous open interest of 16,162. This uptick in open interest coincides with a trading volume of 9,126 contracts, indicating heightened activity in the derivatives market.In terms of overall market performance, Syngene has shown resilience, gaining 1.91% over the past three days. However, it 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. The stock's delivery volume has also seen a decline, with a reported delivery volume of 2.45 lakh on June 23, down 41.08% compared to the 5-day average.
With a market capitalization of Rs 25,747.83 crore, Syngene International continues to maintain a liquid trading environment, suitable for transactions around Rs 0.88 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest reflects a dynamic trading atmosphere for Syngene International, underscoring the stock's current market activity.
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