Syngene International Sees Significant Open Interest Surge Amid Market Activity

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 17,232 contracts, marking a rise of 3,423 contracts or 24.79% from the previous open interest of 13,809. This uptick in open interest comes alongside a trading volume of 7,673 contracts, indicating heightened activity in the derivatives market.
In terms of overall market performance, Syngene has underperformed its sector by 0.57%, with a 1-day return of -0.49%. The stock has been on a downward trend, experiencing consecutive declines over the past two days, resulting in a total return of -0.38% during this period. While the stock is currently trading above its 50-day and 100-day moving averages, it remains below the 5-day, 20-day, and 200-day moving averages.

Additionally, the stock's liquidity appears adequate, with a delivery volume of 84.51k on August 22, although this figure has decreased by 70.05% compared to the 5-day average. Overall, the notable increase in open interest for Syngene International reflects a shift in market dynamics, warranting attention from market participants.