APL Apollo Tubes Ltd Sees 21.09% Surge in Open Interest, Reaching 42,718 Contracts

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 42,718 contracts, marking a notable rise of 7,439 contracts or 21.09% from the previous open interest of 35,279. This surge coincides with a trading volume of 21,261 contracts, reflecting active market engagement.
In terms of financial metrics, APL Apollo Tubes has a market capitalization of Rs 48,497.46 crore, categorizing it as a mid-cap stock. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend in its price performance. However, it has underperformed its sector by 0.41% today, with a 1-day return of -0.39%, compared to a sector return of -0.09% and a Sensex return of -0.61%.

Despite a recent trend reversal after two consecutive days of gains, the stock's liquidity remains robust, with a delivery volume of 1.22 lakh on October 23, albeit down by 49.76% against the 5-day average. Overall, the increase in open interest highlights a notable shift in market dynamics for APL Apollo Tubes Ltd.