APL Apollo Tubes Sees Significant Open Interest Surge Amid Strong 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 15,187 contracts, reflecting a rise of 1,800 contracts or 13.45% from the previous open interest of 13,387. This uptick coincides with a trading volume of 15,906 contracts, indicating robust activity in the derivatives market.
In terms of price performance, APL Apollo Tubes reached a new 52-week high of Rs 1,877.7 today, marking a 3.42% increase during intraday trading. The stock has outperformed its sector by 2.82% and has shown a consistent upward trend, gaining 3.63% over the last two days. Notably, APL Apollo Tubes is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish momentum.

Despite a decline in delivery volume, which fell by 27.27% against the 5-day average, the stock remains liquid enough for trades sized at Rs 2.69 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and strong price performance underscores APL Apollo Tubes' current market position.