ONGC Sees Surge in Open Interest Amidst Mixed Trading Performance Indicators
Oil & Natural Gas Corporation Ltd. (ONGC) has seen a notable rise in open interest, reaching 138,851 contracts, alongside a trading volume of 57,212 contracts. Despite underperforming its sector, ONGC maintains a significant market capitalization and offers a high dividend yield, indicating active trading dynamics.
Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 138,851 contracts, up from the previous figure of 125,112, marking a change of 13,739 contracts or a 10.98% increase. The trading volume for the day reached 57,212 contracts, indicating robust engagement in the market.In terms of price performance, ONGC has underperformed its sector by 0.73%, with a one-day return of -0.72%. The stock is currently trading below its 100-day and 200-day moving averages, although it remains above the 5-day, 20-day, and 50-day averages. The delivery volume has seen a decline, with 51.81 lakh shares delivered on April 22, down 28.46% compared to the five-day average.
ONGC boasts a market capitalization of Rs 3,09,474.87 crore, categorizing it as a large-cap company in the oil exploration and refineries sector. The stock also offers a high dividend yield of 5.56% at the current price, contributing to its liquidity, which is sufficient for trades sized at Rs 4.81 crore based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in trading dynamics for ONGC, amidst a backdrop of varied performance indicators.
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