APL Apollo Tubes Sees Significant Surge in Open Interest Amidst Active Trading Environment

APL Apollo Tubes Ltd, a prominent player in the Steel/Sponge Iron/Pig Iron industry, has experienced a significant increase in open interest today. The latest open interest stands at 23,685 contracts, reflecting a rise of 2,405 contracts or 11.3% from the previous open interest of 21,280. The trading volume for the day reached 23,973 contracts, indicating robust activity in the derivatives market.
In terms of price performance, APL Apollo Tubes is currently trading close to its 52-week high, just 3.41% away from Rs 1,728.95. The stock recorded an intraday high of Rs 1,674.90, marking a 3.77% increase for the day. Notably, APL Apollo Tubes has outperformed its sector, delivering a 1D return of 3.45%, compared to the sector's return of 0.68% and the Sensex's return of 0.12%.

Despite a decline in delivery volume, which fell by 12.04% against the 5-day average, the stock remains liquid enough for trading, with a market cap of Rs 46,338.28 crore. Overall, the notable spurt in open interest underscores the heightened trading activity surrounding APL Apollo Tubes, reflecting current market dynamics.