Zydus Lifesciences Sees 11.07% Surge in Open Interest to 14,752 Contracts
Zydus Lifesciences Ltd has seen a significant rise in open interest, reaching 14,752 contracts, alongside a trading volume of 9,327 contracts, indicating active market engagement. Despite this, the stock has underperformed its sector and experienced a notable decline in delivery volume, suggesting mixed momentum in the market.
Zydus Lifesciences Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a notable increase in open interest (OI) today. The latest OI stands at 14,752 contracts, reflecting a rise of 1,470 contracts or 11.07% from the previous OI of 13,282. This uptick in OI comes alongside a trading volume of 9,327 contracts, indicating active market participation.In terms of overall market performance, Zydus Lifesciences has underperformed its sector, with a 1D return of -0.72%, compared to a sector return of 0.20% and a Sensex return of 0.26%. The stock is currently trading above its 5-day, 100-day, and 200-day moving averages, yet it remains below its 20-day and 50-day moving averages, suggesting mixed momentum in the short to medium term.
Additionally, the stock has seen a significant decline in delivery volume, which dropped by 65.97% against the 5-day average, with a delivery volume of 2.07 lakh shares recorded on October 6. Despite this, Zydus Lifesciences maintains sufficient liquidity for trades sized at Rs 1.44 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Zydus Lifesciences, warranting attention from market participants.
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