ONGC Sees 11.47% Surge in Open Interest, Reaching 101,974 Contracts

Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 101,974 contracts, up from the previous figure of 91,478, marking a change of 10,496 contracts or an 11.47% increase. This surge in open interest coincides with a trading volume of 59,534 contracts, indicating robust participation in the market.
In terms of performance, ONGC has outperformed its sector by 0.95% today, with a 1.82% return on the day. The stock has shown consistent gains over the past two days, accumulating a total return of 3.14%. Notably, ONGC is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.

The stock also boasts a high dividend yield of 4.95% at the current price, and its liquidity remains favorable, with a delivery volume of 97.87 lakh shares on October 23, reflecting a 96.43% increase compared to the 5-day average. With a market capitalization of Rs 3,23,187.37 crore, ONGC continues to maintain a solid position in the oil industry. Overall, the notable rise in open interest and positive performance metrics highlight the stock's current market dynamics.