Fortis Healthcare Sees 28.92% Surge in Open Interest Amid Price Decline

Fortis Healthcare Ltd, a mid-cap player in the hospital industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 34,756 contracts, marking a notable rise of 7,797 contracts or 28.92% from the previous open interest of 26,959. The trading volume for the day reached 90,803 contracts, contributing to a total futures value of approximately Rs 90,464 lakhs.
In terms of price performance, Fortis Healthcare has underperformed its sector by 1.05%, with the stock declining for three consecutive days, resulting in a total drop of 4.67% during this period. The stock recorded an intraday high of Rs 1,007.5, reflecting a gain of 2.09%, while it also touched a low of Rs 949.6, down by 3.78%. The weighted average price indicates that more volume was traded closer to the lower price point.

Additionally, the stock's delivery volume on November 11 reached 22.97 lakh shares, a 59.57% increase compared to the five-day average, suggesting rising investor participation. Fortis Healthcare's liquidity remains robust, with trading activity sufficient for a trade size of Rs 5.7 crore. Overall, the increase in open interest alongside these performance metrics highlights a dynamic trading environment for Fortis Healthcare.