APL Apollo Tubes Sees Significant Open Interest Surge Amid Active Market Participation

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 14,111 contracts, reflecting a rise of 1,541 contracts or 12.26% from the previous open interest of 12,570. This uptick in open interest comes alongside a trading volume of 4,198 contracts, indicating active participation in the market.
In terms of price performance, APL Apollo Tubes has underperformed its sector, with a 1D return of -0.61%, compared to a sector return of 0.20% and a Sensex return of 0.37%. The stock is currently trading above its 5-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 20-day moving average. Notably, the delivery volume has seen a rise of 21.51% against the 5-day average, with a total delivery volume of 629,000 shares recorded on June 26.

With a market capitalization of Rs 49,535.36 crore, APL Apollo Tubes continues to maintain a liquid trading environment, suitable for transactions up to Rs 3.09 crore based on 2% of the 5-day average traded value. The increase in open interest highlights a notable shift in market dynamics for the stock, reflecting changing investor sentiment.