APL Apollo Tubes Sees Surge in Open Interest 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 14,773 contracts, reflecting a rise of 1,386 contracts or 10.35% from the previous open interest of 13,387. The trading volume for the day reached 12,434 contracts, indicating robust activity in the derivatives market.
In terms of price performance, APL Apollo Tubes hit a new 52-week high of Rs 1,873, marking a 3.16% increase during intraday trading. The stock has shown consistent gains over the past two days, with a total return of 2.64% during this period. Notably, it has outperformed its sector by 1.91% today, while the broader market, represented by the Sensex, recorded a modest gain of 0.21%.

Despite the positive price movements, there has been a decline in investor participation, with delivery volume dropping by 27.27% compared to the five-day average. APL Apollo Tubes continues to trade above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong market position. Overall, the increase in open interest alongside the stock's performance metrics highlights a notable day for APL Apollo Tubes in the market.