APL Apollo Tubes Sees 16.62% Surge in Open Interest to 41,142 Contracts

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 41,142 contracts, reflecting a rise of 5,863 contracts or 16.62% from the previous open interest of 35,279. This surge in open interest comes alongside a trading volume of 17,047 contracts, indicating active participation in the market.
In terms of overall market performance, APL Apollo Tubes has underperformed its sector by 0.66% today, with a 1D return of -0.26%. The stock has seen a trend reversal, having fallen after two consecutive days of gains. Despite this, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a relatively strong position in the short to medium term.

Additionally, the stock's delivery volume has decreased significantly, with a reported delivery volume of 1.22 lakh on October 23, down by 49.76% compared to the 5-day average. The liquidity remains adequate 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 significant shift in market dynamics for APL Apollo Tubes Ltd.