Surge in Open Interest for ONGC Signals Increased Trading Activity and Market Dynamics Shift

May 28 2025 03:00 PM IST
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Oil & Natural Gas Corporation Ltd. (ONGC) has seen a notable rise in open interest, reaching 158,203 contracts, alongside a trading volume of 79,826 contracts. Despite this activity, the stock has underperformed its sector, experiencing a decline over the past two days, while maintaining a high dividend yield.
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 158,203 contracts, a notable rise from the previous open interest of 117,973 contracts, marking a change of 40,230 contracts or 34.1%. The trading volume for ONGC reached 79,826 contracts, contributing to a futures value of approximately Rs 232,797.22 lakhs.

Despite this surge in open interest, ONGC's stock has underperformed its sector, showing a decline of 1.15% today, compared to a sector decline of 0.25%. The stock has been on a downward trend for the past two days, with a total return of -1.7% during this period. Currently, ONGC's price is above its 50-day moving average but below its 5-day, 20-day, 100-day, and 200-day moving averages.

Additionally, the stock boasts a high dividend yield of 5.63% at its current price, indicating a solid return for shareholders. With a market capitalization of Rs 3,06,896.00 crore, ONGC remains a significant player in the oil industry. The increase in open interest may suggest a shift in market dynamics, warranting close observation.
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