ONGC Sees 10.05% Surge in Open Interest, Reaching 88,627 Contracts

Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 88,627 contracts, up from the previous 80,537 contracts, marking a change of 8,090 contracts or a 10.05% increase. The trading volume for the day reached 55,238 contracts, contributing to a total futures value of approximately Rs 100,954.03 lakhs.
In terms of performance, ONGC has outperformed its sector by 0.47%, with a one-day return of 1.16%. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Notably, the stock has a high dividend yield of 5.25% at the current price, indicating a strong return on investment for shareholders.

Despite a decline in delivery volume, which fell by 41.47% against the 5-day average, ONGC maintains sufficient liquidity for trades sized at Rs 4.22 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a dynamic trading environment for ONGC.