Mahanagar Gas Sees Surge in Open Interest Amid Active Trading Environment
Mahanagar Gas Ltd. has seen a notable rise in open interest, reaching 12,346 contracts, alongside a trading volume of 28,265 contracts. The stock has outperformed its sector and is currently trading above multiple moving averages, indicating a strong upward trend despite a slight 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 12,346 contracts, a notable rise from the previous open interest of 8,524 contracts, marking a change of 3,822 contracts or 44.84%. The trading volume for the day reached 28,265 contracts, contributing to a total futures value of approximately Rs 25,088.54 lakhs and an options value of Rs 15,128.09 crores, bringing the total to Rs 29,611.65 lakhs.In terms of price performance, Mahanagar Gas has outperformed its sector by 1.69%, with the stock gaining 8.73% over the last six days. Today, it reached an intraday high of Rs 1,525, reflecting a 5.38% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Despite a slight decline in delivery volume, which fell by 5.78% compared to the 5-day average, Mahanagar Gas remains liquid enough for trades sized at Rs 1.89 crore. Overall, the surge in open interest and consistent price performance highlights the stock's active trading environment.
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