ONGC Sees Significant Surge in Open Interest, Indicating Increased Trading Activity
Oil & Natural Gas Corporation Ltd. (ONGC) has seen a significant rise in open interest, indicating increased trading activity. The stock has outperformed its sector and demonstrated consistent gains over the past four days. Despite a drop in delivery volume, ONGC maintains a strong dividend yield and robust liquidity.
Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 120,616 contracts, up from the previous figure of 109,423, marking a change of 11,193 contracts or a 10.23% increase. The trading volume for ONGC reached 54,312 contracts, contributing to a futures value of approximately Rs 32,731.91 lakhs.In terms of performance, ONGC has outperformed its sector by 0.78% today, with a 1D return of 0.93%. The stock has shown consistent gains over the past four days, accumulating a total return of 4.32% during this period. While the stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average.
Despite a decline in delivery volume, which fell by 36.27% against the 5-day average, ONGC maintains a high dividend yield of 5.55% at the current price. The stock's liquidity remains robust, accommodating trade sizes of Rs 7.31 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for ONGC, underscoring the stock's active market presence.
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