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

APL Apollo Tubes Ltd, a prominent player in the Iron & Steel Products industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 14,988 contracts, marking a rise of 1,601 contracts or 11.96% from the previous open interest of 13,387. The trading volume for the day reached 14,338 contracts, indicating robust market engagement.
In terms of price performance, APL Apollo Tubes hit a new 52-week high of Rs 1,873, representing a 3.16% increase during the trading session. The stock has shown consistent gains over the past two days, accumulating a total return of 3.54%. Notably, it has outperformed its sector by 2.81% today. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

Despite a decline in delivery volume, which fell by 27.27% compared to the 5-day average, the liquidity remains adequate for trades of Rs 2.69 crore, based on 2% of the 5-day average traded value. Overall, the notable spurt in open interest and the stock's recent performance underscore its active presence in the market.