Mahanagar Gas Sees Surge in Open Interest Amid Increased Trading Activity

May 30 2025 11:00 AM IST
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Mahanagar Gas Ltd. has seen a notable rise in open interest, indicating increased trading activity, with current figures at 9,807 contracts. The trading volume reached 5,694 contracts, while delivery volume surged significantly. Despite this activity, the stock has underperformed its sector and experienced a decline after recent gains.
Mahanagar Gas Ltd. (MGL), a mid-cap player in the gas industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 9,807 contracts, up from the previous 7,966, marking a change of 1,841 contracts or a 23.11% increase. The trading volume for the day reached 5,694 contracts, contributing to a futures value of approximately Rs 9,025.55 lakhs.

In terms of price performance, Mahanagar Gas has underperformed its sector by 2.27%, with the stock falling after two consecutive days of gains. It touched an intraday low of Rs 1,334.50, representing a decline of 3.49%. The weighted average price indicates that more volume was traded closer to this low price. While the stock is currently above its 100-day moving average, it remains below the 5-day, 20-day, 50-day, and 200-day moving averages.

Additionally, delivery volume has seen a notable rise, increasing by 105.07% against the 5-day average, suggesting a solid level of liquidity for trades sized at Rs 1.04 crore. Overall, the increase in open interest alongside these performance metrics highlights a dynamic trading environment for Mahanagar Gas Ltd.
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