Mahanagar Gas Ltd. Sees Surge in Open Interest Amid Increased Trading Activity
Mahanagar Gas Ltd. has seen a significant rise in open interest, indicating increased trading activity. The stock's trading volume reached 9,382 contracts, with a total value of approximately Rs 10,721.34 lakhs. Additionally, delivery volume surged by over 160%, reflecting a dynamic trading environment for the company.
Mahanagar Gas Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 13,879 contracts, up from the previous 12,386, marking a change of 1,493 contracts or a 12.05% increase. The trading volume for the day reached 9,382 contracts, contributing to a futures value of approximately Rs 9,498.09 lakhs and an options value of Rs 4,868.99 crores, bringing the total value to Rs 10,721.34 lakhs.In terms of price performance, Mahanagar Gas has underperformed its sector by 1.59%, with the stock falling after six consecutive days of gains. It touched an intraday low of Rs 1,472.90, reflecting a decline of 2.57%. Despite this, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over the longer term.
Additionally, the stock has seen a significant rise in delivery volume, which increased by 160.51% compared to the 5-day average. With a market capitalization of Rs 14,665.54 crore, Mahanagar Gas remains a liquid stock, suitable for trades around Rs 3.02 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading metrics highlights a dynamic trading environment for Mahanagar Gas Ltd.
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