Surge in Open Interest Signals Increased Trading Activity for ONGC Amid Price Challenges

May 28 2025 02:00 PM IST
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Oil & Natural Gas Corporation Ltd. (ONGC) has seen a notable rise in open interest, indicating increased trading activity, with current figures reaching 148,330 contracts. Despite this, the stock has faced recent price challenges, underperforming its sector and showing mixed short-term momentum, while maintaining a strong dividend yield.
Oil & Natural Gas Corporation Ltd. (ONGC) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 148,330 contracts, up from the previous figure of 117,973, marking a change of 30,357 contracts or a 25.73% increase. This surge in open interest comes alongside a trading volume of 63,816 contracts, indicating robust market engagement.

In terms of price performance, ONGC has underperformed its sector by 0.85%, with a 1D return of -1.08%. The stock has been on a downward trend, recording a decline of 1.62% over the past two days. Currently, the stock is trading above its 50-day moving average but below its 5-day, 20-day, 100-day, and 200-day moving averages, suggesting mixed short-term momentum.

Additionally, ONGC boasts a high dividend yield of 5.63% at the current price, and its liquidity remains favorable, with a trading capacity of Rs 5.26 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for ONGC, amidst its recent price performance challenges.
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