Zydus Lifesciences Sees 35.38% Surge in Open Interest Amid Price Declines

Zydus Lifesciences Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has experienced a significant increase in open interest today. The latest open interest stands at 20,417 contracts, reflecting a notable rise of 5,336 contracts or 35.38% from the previous open interest of 15,081. The trading volume for the day reached 38,956 contracts, indicating robust activity in the derivatives market.
In terms of price performance, Zydus Lifesciences has underperformed its sector by 2.74%, with the stock recording a decline of 4.24% over the past two days. The stock's intraday high was Rs 998, marking a 2.71% increase, while it dipped to an intraday low of Rs 937.1, representing a decrease of 3.56%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Delivery volume has also decreased significantly, falling by 35.19% compared to the 5-day average. With a market capitalization of Rs 94,752.02 crore, Zydus Lifesciences remains a liquid stock, suitable for trades around Rs 1.23 crore. Overall, the surge in open interest amidst declining prices highlights a noteworthy shift in market dynamics for Zydus Lifesciences.