APL Apollo Tubes Sees Significant Surge in Open Interest Amid Increased Market Activity
APL Apollo Tubes Ltd has seen a notable rise in open interest, reaching 15,240 contracts, alongside a trading volume of 8,422 contracts, indicating increased activity in the derivatives market. The stock's market capitalization stands at Rs 48,738.86 crore, reflecting a liquid trading environment.
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 15,240 contracts, reflecting a rise of 2,670 contracts or 21.24% from the previous open interest of 12,570. This surge in open interest comes alongside a trading volume of 8,422 contracts, indicating heightened activity in the derivatives market.In terms of price performance, APL Apollo Tubes has underperformed its sector by 2.38%, with the stock reaching an intraday low of Rs 1,743, marking a decline of 2.95%. The stock is currently positioned above its 100-day and 200-day moving averages, yet it remains below its 5-day, 20-day, and 50-day moving averages. Notably, the delivery volume has seen a rise of 21.51% compared to the 5-day average, totaling 629,000 shares.
With a market capitalization of Rs 48,738.86 crore, APL Apollo Tubes continues to maintain a liquid trading environment, suitable for transactions up to Rs 3.09 crore based on 2% of the 5-day average traded value. This notable increase in open interest highlights the evolving dynamics within the stock, reflecting a shift in market engagement.
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