Surge in Open Interest Signals Increased Trading Activity for Apollo Tyres

Apollo Tyres Ltd. has experienced a notable increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 8,313 contracts, up from the previous 7,404 contracts, marking a change of 909 contracts or a 12.28% increase. The trading volume for the day reached 4,346 contracts, indicating robust participation in the market.
In terms of price performance, Apollo Tyres has shown a slight gain of 0.50% today, aligning with the overall sector performance, which saw a modest increase of 0.03%. This uptick comes after three consecutive days of decline, suggesting a potential trend reversal. The stock's price is currently above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.

Additionally, the delivery volume has risen significantly, with 892,000 shares delivered on March 27, reflecting a 24.62% increase compared to the 5-day average. The liquidity of the stock remains favorable, accommodating trade sizes of up to Rs 1.46 crore based on 2% of the 5-day average traded value.

In summary, the increase in open interest and positive price movement highlight a shift in trading dynamics for Apollo Tyres, underscoring the stock's current market activity.