Syngene International Sees 22.88% Surge in Open Interest to 18,260 Contracts

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 18,260 contracts, reflecting a notable rise of 3,400 contracts or 22.88% from the previous open interest of 14,860. This surge coincides with a trading volume of 10,672 contracts, indicating heightened activity in the derivatives market.
In terms of financial metrics, Syngene's futures value is reported at Rs 41,144.31 lakhs, while the options value is substantially higher at Rs 30,111.48 lakhs, bringing the total value to Rs 41,429.59 lakhs. The underlying value of the stock is currently at Rs 659.

On the price performance front, Syngene's stock has shown resilience, trading inline with its sector despite a 1D return of -0.82%, compared to the sector's -0.66% and the Sensex's -0.61%. The stock is currently above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Additionally, the delivery volume has surged by 116.31% against the 5-day average, indicating increased trading activity.

In summary, the notable rise in open interest for Syngene International Ltd highlights a shift in market dynamics, reflecting increased trading engagement without making any predictions about future performance.