Mahanagar Gas Sees Surge in Open Interest Amid Increased Trading Activity
Mahanagar Gas Ltd. has seen a notable rise in open interest, reaching 19,300 contracts, alongside a trading volume of 36,010 contracts. The stock has outperformed its sector and has shown consistent upward movement over the past four days, despite a decline in delivery volume.
Mahanagar Gas Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 19,300 contracts, up from the previous 16,619, marking a change of 2,681 contracts or a 16.13% increase. The trading volume for the day reached 36,010 contracts, indicating robust participation in the market.In terms of price performance, Mahanagar Gas has outperformed its sector by 2.12%, with a notable 1D return of 2.38%. The stock has been on an upward trajectory for the past four days, accumulating a total return of 3.86% during this period. Today, it reached an intraday high of Rs 1,458, reflecting a 3.23% increase.
Despite this positive momentum, there has been a decline in delivery volume, which fell by 48.2% compared to the five-day average, with a total of 1.36 lakh shares delivered on June 24. Mahanagar Gas, with a market capitalization of Rs 14,246 crore, continues to trade above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong market position. Overall, the increase in open interest highlights a notable shift in trading dynamics for Mahanagar Gas Ltd.
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