Key Events This Week
19 Jan: Stock declines 1.09% amid broader market weakness
21 Jan: Sharp open interest surge despite price weakness
22 Jan: Intraday high with 5.04% surge, reversing prior losses
23 Jan: Hits new 52-week and all-time high of Rs.2,069.9
23 Jan: Record value turnover and institutional interest
Monday, 19 January 2026: Market Weakness Weighs on Stock
APL Apollo Tubes Ltd opened the week under pressure, closing at Rs.1,918.60, down 1.09% from the previous close. This decline was in line with the broader market, as the Sensex fell 0.49% to 36,650.97. The stock’s volume was moderate at 7,609 shares, reflecting cautious investor sentiment amid a weakening market environment.
Wednesday, 21 January 2026: Open Interest Surges Amid Price Decline
Despite the stock’s continued decline to Rs.1,877.85 (-1.47%), derivatives activity surged notably. Open interest in futures and options rose 10.59% to 43,151 contracts, with futures volume at 20,116 contracts and a combined notional value exceeding ₹4,733.98 crores. This divergence between falling spot prices and rising open interest suggests active repositioning by traders, possibly building fresh short positions or hedging existing exposure. The stock traded below its 5-day and 20-day moving averages but remained above longer-term averages, indicating short-term consolidation within a longer-term uptrend.
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Thursday, 22 January 2026: Strong Rebound and Intraday High
The stock rebounded sharply, surging 5.04% to close at Rs.1,972.45, reversing the prior three-day losing streak. Intraday, it touched a high of Rs.1,963, just 1.81% shy of its 52-week high of Rs.1,993.75. This rally outperformed both the Iron & Steel Products sector (+2.75%) and the Sensex (+0.76%). The stock traded above all key moving averages, signalling renewed bullish momentum. Delivery volumes surged 109.11% above the five-day average, reflecting strong investor conviction and accumulation.
Friday, 23 January 2026: New 52-Week and All-Time Highs Amid Record Turnover
APL Apollo Tubes Ltd reached a new 52-week and all-time high of Rs.2,069.9, closing at Rs.2,001.00 (+1.45%). The stock outperformed the sector by 3.31% and the Sensex by 1.78% on the day. It recorded a record traded volume of 9,95,086 shares and a traded value of approximately Rs.203.63 crores, placing it among the market’s highest value movers. Institutional participation was strong, with delivery volumes confirming sustained accumulation. Open interest in derivatives surged 18.06% to 51,092 contracts, indicating fresh long positions and bullish market positioning ahead of the January 27 expiry. The stock’s technical strength was evident as it traded comfortably above all major moving averages.
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Weekly Price Performance: Stock vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-19 | Rs.1,918.60 | -1.09% | 36,650.97 | -0.49% |
| 2026-01-20 | Rs.1,905.85 | -0.66% | 35,984.65 | -1.82% |
| 2026-01-21 | Rs.1,877.85 | -1.47% | 35,815.26 | -0.47% |
| 2026-01-22 | Rs.1,972.45 | +5.04% | 36,088.66 | +0.76% |
| 2026-01-23 | Rs.2,001.00 | +1.45% | 35,609.90 | -1.33% |
Key Takeaways from the Week
1. Strong Outperformance: The stock gained 3.15% over the week while the Sensex declined 3.31%, highlighting robust relative strength amid a challenging market environment.
2. Derivatives Market Activity: Significant surges in open interest and call option volumes indicate heightened bullish positioning and investor confidence, particularly ahead of the January 27 expiry.
3. Technical Momentum: Trading above all major moving averages throughout the week signals sustained upward momentum and strong technical support.
4. Institutional Accumulation: Delivery volumes more than doubled on 22 January, reflecting genuine buying interest from institutional investors and long-term holders.
5. Financial and Operational Strength: The company’s recent quarterly results showed record profits and strong growth metrics, underpinning the stock’s fundamental appeal and supporting its upgraded Strong Buy mojo grade.
Conclusion
APL Apollo Tubes Ltd demonstrated resilience and strength during the week of 19 to 23 January 2026, overcoming early weakness to close at a new all-time high. The stock’s outperformance relative to the Sensex and its sector peers was supported by robust derivatives market activity, strong institutional participation, and positive technical signals. The company’s solid financial performance and upgraded mojo rating further reinforce its favourable medium-term outlook. Investors should continue to monitor open interest trends and delivery volumes as indicators of evolving market sentiment, while remaining mindful of sector-specific risks and broader market volatility.
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