ONGC Sees 14.24% Surge in Open Interest Amid Increased Trading Activity
Oil & Natural Gas Corporation Ltd. (ONGC) has seen a notable rise in open interest, reaching 104,505 contracts, alongside a trading volume of 97,519 contracts. The stock has outperformed its sector and is trading above key moving averages, indicating strong market engagement and a favorable liquidity position.
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 104,505 contracts, up from the previous figure of 91,478, marking a change of 13,027 contracts or a 14.24% increase. This surge in open interest coincides with a trading volume of 97,519 contracts, indicating robust market engagement.In terms of price performance, ONGC has outperformed its sector by 0.8%, with the stock gaining 2.63% over the last two days. Today, it reached an intraday high of Rs 257.4, reflecting a 2.02% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the stock boasts a high dividend yield of 4.95% at the current price, and its liquidity remains favorable, with a trading capacity of Rs 4.77 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest for ONGC underscores a dynamic trading environment, reflecting the stock's current market position and performance metrics.
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