Surge in Open Interest Signals Increased Market Activity for Apollo Hospitals Stock

Apollo Hospitals Enterprise Ltd. has experienced a notable increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 47,355 contracts, reflecting a rise of 4,717 contracts or 11.06% from the previous open interest of 42,638. This surge coincides with a trading volume of 22,913 contracts, indicating robust market engagement.
In terms of financial metrics, Apollo Hospitals is currently trading at an underlying value of Rs 7,450, just 2.46% away from its 52-week high of Rs 7,635. The stock's performance today aligns closely with the sector, with a 1D return of -0.06%, slightly outperforming the sector's return of -0.15%. Notably, Apollo Hospitals is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong technical position.

Despite a decline in delivery volume, which fell by 12.9% against the 5-day average, the stock remains liquid enough for trades sized at Rs 6.12 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 Apollo Hospitals, reflecting ongoing interest in the stock's performance.