APL Apollo Tubes Sees 16.54% Surge in Open Interest to 42,317 Contracts

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 42,317 contracts, reflecting a rise of 6,005 contracts or 16.54% from the previous open interest of 36,312. This uptick coincides with a trading volume of 31,315 contracts, indicating active market participation.
In terms of performance, APL Apollo Tubes has shown resilience, gaining 1.06% over the past four days, with a 1D return of 0.52%. 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 in its price trajectory. However, it is noteworthy that the delivery volume has decreased by 27.81% compared to the 5-day average, with a recorded delivery volume of 158,000 on October 24.

With a market capitalization of Rs 48,963.89 crore, APL Apollo Tubes remains a mid-cap stock with sufficient liquidity for trades sized at Rs 1.11 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for APL Apollo Tubes, reflecting ongoing market activity.