Syngene International Sees 20.32% Surge in Open Interest Amid Price Decline
Syngene International Ltd has reported a significant rise in open interest, reaching 19,004 contracts, alongside a trading volume of 9,393 contracts. Despite this increase, the company faces challenges, having underperformed its sector and experienced a decline in stock value over recent days, with reduced delivery volume.
Syngene International Ltd, a small-cap player in the Healthcare Services sector, has experienced a significant increase in open interest today. The latest open interest stands at 19,004 contracts, reflecting a rise of 3,209 contracts or 20.32% from the previous open interest of 15,795. This uptick in open interest is accompanied by a trading volume of 9,393 contracts, indicating active market participation.In terms of financial metrics, Syngene's future value is reported at Rs 38,491.58 lakhs, while the options value is notably high at Rs 2,254.95 crores, contributing to a total value of Rs 38,613.19 lakhs. The underlying value of the stock is currently at Rs 639.
Despite this surge in open interest, Syngene has been facing challenges, having underperformed the sector by 0.31% today. The stock has been on a downward trend, losing 3.86% over the past four days and trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has decreased by 2.12% compared to the 5-day average, indicating a decline in investor participation.
In summary, while Syngene International has seen a notable increase in open interest, the stock continues to navigate a challenging market environment.
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