APL Apollo Tubes Sees Significant Rise in Open Interest Amid Increased Trading Activity

APL Apollo Tubes Ltd, a prominent player in the Steel/Sponge Iron/Pig Iron industry, has experienced a notable increase in open interest today. The latest open interest stands at 22,260 contracts, reflecting a rise of 2,300 contracts or 11.52% from the previous open interest of 19,960. The trading volume for the day reached 9,633 contracts, contributing to a futures value of approximately Rs 27,133.36 lakhs.
In terms of price performance, APL Apollo Tubes has shown resilience, trading inline with its sector. The stock has recorded a slight decline of 0.44% today, while the sector overall has decreased by 0.58%. Notably, the stock has been gaining traction over the past day, with a return of -0.7% during this period. APL Apollo Tubes is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position in the market.

Additionally, the stock has seen a significant rise in delivery volume, with 496,000 shares delivered on April 22, marking a 41.62% increase compared to the 5-day average. With a market capitalization of Rs 44,806.34 crore, APL Apollo Tubes remains a liquid option for traders, supporting a trade size of Rs 1.98 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading activity underscores the stock's current market dynamics.