Fortis Healthcare Sees 17.35% Surge in Open Interest Amid Increased Trading Activity
Fortis Healthcare Ltd has seen a notable rise in open interest, reaching 23,737 contracts, alongside a trading volume of 19,139 contracts, indicating increased market activity. Despite underperforming its sector, the stock maintains a solid market capitalization of approximately Rs 76,289 crore, reflecting its mid-cap status.
Fortis Healthcare Ltd, a prominent player in the hospital industry, has experienced a significant increase in open interest today. The latest open interest stands at 23,737 contracts, reflecting a rise of 3,509 contracts or 17.35% from the previous open interest of 20,228. This uptick in open interest coincides with a trading volume of 19,139 contracts, indicating heightened activity in the stock.In terms of price performance, Fortis Healthcare has underperformed its sector by 1.71%, with the stock reaching an intraday low of Rs 984.5, down 3.48% for the day. The weighted average price suggests that more volume was traded closer to this low price point. Notably, the stock is currently trading above its 100-day and 200-day moving averages, yet below its 5-day, 20-day, and 50-day moving averages.
Additionally, the delivery volume on November 7 has risen by 5.3% compared to the 5-day average, totaling 10.91 lakh shares, indicating a solid level of liquidity. The overall market capitalization of Fortis Healthcare is approximately Rs 76,289 crore, positioning it firmly within the mid-cap segment.
In summary, the notable increase in open interest alongside the current trading dynamics highlights a period of active engagement for Fortis Healthcare, reflecting the stock's ongoing market activity.
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