Mahanagar Gas Sees Surge in Open Interest Amid Increased Derivatives Activity

Mar 24 2025 12:00 PM IST
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Mahanagar Gas Ltd. has seen a notable rise in open interest, reaching 23,683 contracts, alongside a trading volume of 12,675 contracts, indicating increased market activity. Despite a slight decline in stock price today, the company has shown resilience with a 7.5% gain over the past six days.
Mahanagar Gas Ltd. (MGL), a prominent player in the Gas Transmission and Marketing industry, has experienced a significant increase in open interest today. The latest open interest stands at 23,683 contracts, reflecting a rise of 2,528 contracts or 11.95% from the previous open interest of 21,155. This uptick in open interest coincides with a trading volume of 12,675 contracts, indicating heightened activity in the derivatives market.

In terms of performance, Mahanagar Gas has underperformed its sector by 2.63% today, with a slight decline of 0.14% in its stock price. However, the stock has shown resilience over the past six days, gaining 7.5% during this period. The stock's current price is positioned above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

Additionally, the stock has demonstrated rising investor participation, with a delivery volume of 159,000 shares on March 21, marking a 58.54% increase compared to the 5-day average. Mahanagar Gas Ltd. maintains a market capitalization of Rs 13,612.57 crore, categorizing it as a mid-cap stock. Overall, the notable increase in open interest highlights a shift in market dynamics for MGL, reflecting active trading conditions.
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