ONGC Sees Surge in Open Interest, Indicating Increased Market Activity and Interest

Apr 23 2025 01:00 PM IST
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Oil & Natural Gas Corporation Ltd. (ONGC) has seen a notable rise in open interest, indicating increased trading activity. The stock is performing well against its sector and is trading above several moving averages, despite a decline in delivery volume. The high dividend yield suggests strong returns for shareholders.
Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 152,323 contracts, up from the previous figure of 125,112, marking a change of 27,211 contracts or a 21.75% increase. The trading volume for the day reached 94,886 contracts, contributing to a futures value of approximately Rs 206,275.54 lakhs.

In terms of performance, ONGC has outperformed its sector by 0.38%, with a one-day return of 0.39%. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Notably, the stock has a high dividend yield of 5.56% at the current price, indicating a strong return on investment for shareholders.

Despite a decline in delivery volume, which fell by 28.46% against the 5-day average, ONGC maintains sufficient liquidity for trading, with a trade size of Rs 4.81 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for ONGC, reflecting ongoing interest in the stock within the oil exploration and refinery sector.
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