Fortis Healthcare Sees 31.32% Surge in Open Interest Amid Trading Activity

Fortis Healthcare Ltd, a mid-cap player in the hospital industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 35,403 contracts, marking a notable rise of 8,444 contracts or 31.32% from the previous OI of 26,959. This surge in OI coincides with a trading volume of 72,369 contracts, indicating heightened activity in the stock.
In terms of price performance, Fortis Healthcare has underperformed its sector by 1.66%, with the stock declining for three consecutive days, resulting in a total drop of 5.71% during this period. Today, the stock reached 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 suggests that more volume was traded closer to the lower price point.

Despite these fluctuations, the stock remains above its 100-day and 200-day moving averages, although it is currently below its 5-day, 20-day, and 50-day moving averages. Additionally, delivery volume has increased significantly, rising by 59.57% compared to the 5-day average, indicating a rise in investor participation. Overall, the notable increase in open interest highlights a shift in market dynamics for Fortis Healthcare.