Fortis Healthcare Sees 33.39% Surge in Open Interest Amid Price Decline
Fortis Healthcare Ltd has seen a significant rise in open interest, reaching 35,960 contracts, alongside a trading volume of 82,626 contracts, indicating increased activity in the derivatives market. Despite recent price declines, the stock's delivery volume has surged, reflecting heightened investor participation in the mid-cap hospital sector.
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 35,960 contracts, marking a notable rise of 9,001 contracts or 33.39% from the previous OI of 26,959. This surge in OI coincides with a trading volume of 82,626 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Fortis Healthcare has underperformed its sector by 1.12%, with the stock experiencing a decline of 4.87% over the last three days. 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 end of the price range.
Additionally, the stock's delivery volume on November 11 was recorded at 22.97 lakh shares, which is a 59.57% increase compared to the five-day average. This indicates a rise in investor participation. Fortis Healthcare's market capitalization is currently at Rs 72,480 crore, reinforcing its position within the mid-cap segment. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Fortis Healthcare.
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