APL Apollo Tubes Sees 14.41% Surge in Open Interest Amid Mixed Market Performance
APL Apollo Tubes Ltd has seen a significant rise in open interest, reaching 41,544 contracts, alongside a trading volume of 28,483 contracts. Despite underperforming its sector slightly, the stock remains above key moving averages, indicating a positive trend, while delivery volume has decreased compared to recent averages.
APL Apollo Tubes Ltd, a mid-cap player in the Iron & Steel Products industry, has experienced a notable increase in open interest today. The latest open interest stands at 41,544 contracts, reflecting a rise of 5,232 contracts or 14.41% from the previous open interest of 36,312. This surge comes alongside a trading volume of 28,483 contracts, indicating active market participation.In terms of performance, APL Apollo Tubes has underperformed its sector by 0.25% today, despite achieving a modest 0.66% gain over the last four trading days. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in the short to medium term. However, it is noteworthy that the delivery volume has decreased by 27.81% compared to the 5-day average, with a total delivery volume of 158,000 shares recorded on October 24.
With a market capitalization of Rs 48,919.47 crore, APL Apollo Tubes continues to maintain a liquid trading environment, suitable for transactions around 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, reflecting ongoing developments in the stock's trading activity.
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