APL Apollo Tubes Sees Significant Rise in Open Interest Amid Market Activity

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 34,564 contracts, reflecting a rise of 3,664 contracts or 11.86% from the previous open interest of 30,900. This uptick coincides with a trading volume of 16,677 contracts, indicating active participation in the market.
In terms of price performance, APL Apollo Tubes has underperformed its sector by 0.61% today, with a stock return of 0.01%. The stock is currently trading at an underlying value of Rs 1,651. While it is positioned higher than its 5-day, 20-day, and 200-day moving averages, it remains below the 50-day and 100-day moving averages, suggesting mixed momentum in its price trajectory.

Additionally, the stock has seen a decline in delivery volume, with a reported 1.31 lakh shares delivered on August 22, marking a significant drop of 54.02% compared to the 5-day average. Despite this, APL Apollo Tubes maintains sufficient liquidity for trades sized at Rs 1.19 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for APL Apollo Tubes, reflecting evolving investor sentiment.