Fortis Healthcare Sees 12.42% Surge in Open Interest Amid Increased Trading Activity

Fortis Healthcare Ltd, a mid-cap player in the hospital industry, has experienced a notable increase in open interest today. The latest open interest stands at 24,004 contracts, reflecting a rise of 2,652 contracts or 12.42% from the previous open interest of 21,352. This surge in open interest comes alongside a trading volume of 20,208 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Fortis Healthcare has faced challenges recently, with the stock declining by 5.33% over the last two days. Today's one-day return is recorded at -1.00%, slightly better than the sector's return of -1.09% and the Sensex's decline of -0.61%. The stock's current price is positioned above its 20-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 5-day moving average.

Additionally, the stock has seen a significant rise in delivery volume, with 27.9 lakh shares delivered on October 23, marking an increase of 203.08% compared to the five-day average. With a market capitalization of Rs 78,436.38 crore, Fortis Healthcare continues to maintain liquidity suitable for trades of Rs 4.09 crore based on 2% of the five-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Fortis Healthcare, reflecting ongoing trading activity amidst recent price fluctuations.