Fortis Healthcare Sees Significant Surge in Open Interest Amid Market Activity Shift
Fortis Healthcare Ltd has seen a significant rise in open interest, reaching 23,171 contracts, alongside a trading volume of 8,346 contracts. The stock is currently trading near its 52-week high, although it has underperformed its sector slightly. A decline in delivery volume indicates reduced investor participation.
Fortis Healthcare Ltd, a prominent player in the hospital industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 23,171 contracts, reflecting a rise of 2,367 contracts or 11.38% from the previous OI of 20,804. The trading volume for the day reached 8,346 contracts, contributing to a futures value of approximately Rs 33,582.95 lakhs.In terms of price performance, Fortis Healthcare is currently trading just 1.23% below its 52-week high of Rs 854.5. Despite this, the stock has underperformed its sector by 0.37% today, with a slight decline of 0.25% over the last day. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend in its price movement.
However, there has been a decline in investor participation, with delivery volume falling by 3.18% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 3.87 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market activity for Fortis Healthcare, reflecting ongoing developments in the stock's trading dynamics.
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