APL Apollo Tubes Sees Significant Surge in Open Interest Amid Increased Trading Activity
APL Apollo Tubes Ltd has seen a notable rise in open interest, reaching 38,036, alongside a trading volume of 59,446. The stock has outperformed its sector and achieved consistent gains over the past two days, despite trading below key moving averages and experiencing a decline in delivery volume.
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 38,036, reflecting a rise of 5,220 from the previous open interest of 32,816, marking a percentage change of 15.91%. This surge in open interest coincides with a trading volume of 59,446, indicating heightened activity in the stock.In terms of price performance, APL Apollo Tubes has outperformed its sector by 2.78%, with a notable 1D return of 3.37%. The stock has shown consistent gains over the past two days, accumulating a total return of 4.07% during this period. Today, it reached an intraday high of Rs 1,569, reflecting a 3.57% increase.
Despite these positive movements, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a decline in delivery volume, which fell by 29.19% compared to the 5-day average. With a market capitalization of Rs 43,016.00 crore, APL Apollo Tubes remains a significant entity in the large-cap segment of the market. Overall, the increase in open interest highlights a notable shift in trading dynamics for APL Apollo Tubes.
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