Mahanagar Gas Ltd. Sees Surge in Open Interest Amid Increased Trading Activity
Mahanagar Gas Ltd. has seen a notable rise in open interest, reaching 12,547 contracts, alongside a trading volume of 36,225 contracts, indicating increased market activity. The stock has consistently gained over the past week and is trading above key moving averages, reflecting a strong upward trend in the gas sector.
Mahanagar Gas Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity in the gas sector. The latest open interest stands at 12,547 contracts, a notable rise from the previous open interest of 8,524 contracts, marking a change of 4,023 contracts or 47.2%. The trading volume for the day reached 36,225 contracts, indicating robust market engagement.In terms of price performance, Mahanagar Gas has outperformed its sector by 1.17%, with a 1-day return of 4.06%. The stock has shown consistent gains over the past six days, accumulating a total return of 7.9% during this period. Today, it reached an intraday high of Rs 1,525, reflecting a 5.38% increase.
Mahanagar Gas is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend. Despite a slight decline in delivery volume, which fell by 5.78% against the 5-day average, the stock remains liquid enough for trades of Rs 1.89 crore, supported by a market capitalization of Rs 14,873.96 crore. Overall, the notable spurt in open interest underscores the active trading environment surrounding Mahanagar Gas Ltd.
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