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

APL Apollo Tubes Ltd, a prominent player in the Iron & Steel Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 18,062 contracts, reflecting a rise of 1,797 contracts or 11.05% from the previous open interest of 16,265. This uptick in open interest comes alongside a trading volume of 7,369 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, APL Apollo Tubes has underperformed its sector by 0.74%, with a 1D return of -1.01%. The stock has been on a downward trend, recording a consecutive fall over the last two days, resulting in a total decline of 3.08% during this period. Notably, the stock's price is currently above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages.

Additionally, the stock has shown rising investor participation, with a delivery volume of 744,000 shares on June 27, marking a 26.38% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 48,239.32 crore, APL Apollo Tubes remains a liquid stock, suitable for trades of up to Rs 2.78 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for APL Apollo Tubes.