APL Apollo Tubes Sees 10.36% Surge in Open Interest to 40,075 Contracts

APL Apollo Tubes Ltd, a prominent player in the Iron & Steel Products industry, has experienced a notable increase in open interest today. The latest open interest stands at 40,075 contracts, reflecting a rise of 3,763 contracts or 10.36% from the previous open interest of 36,312. This surge in open interest comes alongside a trading volume of 23,143 contracts, indicating active participation in the market.
In terms of price performance, APL Apollo Tubes has shown resilience, gaining 0.62% today, which aligns closely with the sector's performance of 0.77%. The stock has been on an upward trajectory, recording gains for the past four consecutive days, with a total return of 0.97% during this period. Notably, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong market position.

However, it is worth mentioning that delivery volume has seen a decline, with a reported 1.58 lakh shares delivered on October 24, down by 27.81% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of Rs 1.11 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for APL Apollo Tubes Ltd.