APL Apollo Tubes Sees Significant Surge in Open Interest Amid Increased Trading Activity

APL Apollo Tubes Ltd, a prominent player in the Steel/Sponge Iron/Pig Iron industry, has experienced a notable increase in open interest today. The latest open interest stands at 23,426 contracts, reflecting a rise of 2,146 contracts or 10.08% from the previous open interest of 21,280. This surge coincides with a trading volume of 20,075 contracts, indicating robust activity in the derivatives market.
In terms of price performance, APL Apollo Tubes is currently trading close to its 52-week high, just 4.09% away from Rs 1,728.95. The stock reached an intraday high of Rs 1,664.40, marking a 3.12% increase for the day. Notably, APL Apollo Tubes has outperformed its sector, delivering a 1D return of 2.70%, compared to the sector's return of 0.78% and the Sensex's decline of 0.13%.

Despite a slight decline in delivery volume, which fell by 12.04% against the 5-day average, the stock remains liquid enough for trading, with a market capitalization of Rs 45,999.70 crore. Overall, the increase in open interest highlights a significant shift in market dynamics for APL Apollo Tubes, reflecting heightened trading activity.