Fortis Healthcare Sees 32.76% 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 35,791 contracts, up from the previous 26,959, marking a change of 8,832 contracts or a 32.76% increase. The trading volume for the day reached 63,187 contracts, indicating robust participation in the market.
In terms of price performance, Fortis Healthcare has underperformed its sector by 1.64%, with the stock experiencing a decline of 5.87% over the past three days. Today, the stock hit an intraday high of Rs 1,007.5, representing a 2.09% increase, while the intraday low was recorded at Rs 949.6, reflecting a decrease of 3.78%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

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