Fortis Healthcare Sees 19.63% Surge in Open Interest to 24,199 Contracts
Fortis Healthcare Ltd has seen a significant rise in open interest, reaching 24,199 contracts, alongside a trading volume of 22,042 contracts, indicating increased activity in the derivatives market. Despite underperforming its sector, the stock maintains robust liquidity and delivery volume, reflecting active trading conditions.
Fortis Healthcare Ltd, a mid-cap player in the hospital industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 24,199 contracts, reflecting a rise of 3,971 contracts or 19.63% from the previous OI of 20,228. This surge in OI comes alongside a trading volume of 22,042 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Fortis Healthcare underperformed its sector by 0.98%, with the stock reaching an intraday low of Rs 984.5, down 3.48%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock is currently above its 100-day and 200-day moving averages, it remains below the 5-day, 20-day, and 50-day moving averages.
Additionally, the delivery volume on November 7 reached 10.91 lakh shares, marking a 5.3% increase compared to the five-day average delivery volume. The liquidity of the stock remains robust, with a trade size of Rs 3.91 crore based on 2% of the five-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Fortis Healthcare, reflecting active trading conditions.
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