Mahanagar Gas Sees Significant Surge in Open Interest Amid Increased Trading Activity

Mar 24 2025 03:00 PM IST
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Mahanagar Gas Ltd. has reported a significant rise in open interest, reaching 27,295 contracts, alongside a trading volume of 21,593 contracts. Despite underperforming its sector today, the stock has gained 7.95% over the past six days and shows increased delivery volume, indicating active market engagement.
Mahanagar Gas Ltd. (MGL), a key player in the Gas Transmission and Marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 27,295 contracts, reflecting a notable rise of 6,140 contracts or 29.02% from the previous open interest of 21,155. This surge in open interest coincides with a trading volume of 21,593 contracts, indicating heightened activity in the stock.

In terms of price performance, Mahanagar Gas has underperformed its sector by 2.3% today, with a 1D return of 0.62%. However, the stock has shown resilience over the past six days, gaining 7.95% during this period. The stock's current price is positioned above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

Additionally, the stock has seen a rise in delivery volume, with 159,000 shares delivered on March 21, marking a 58.54% increase compared to the 5-day average. With a market capitalization of Rs 13,715.29 crore, Mahanagar Gas continues to maintain a liquid trading environment, suitable for transactions of up to Rs 1.06 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for Mahanagar Gas.
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