ONGC Stock Declines, But High Dividend Yield Makes it a Top Player in Oil Industry

Oil & Natural Gas Corporation . (ONGC) is a leading player in the oil exploration and refining industry. With a large market capitalization, it is one of the top companies in the sector. On September 9, 2024, the company's stock saw a decline of -3.43%, underperforming the sector by -2.71%. This has led to a 'Hold' call by MarketsMOJO.

The stock has been on a downward trend for the past 6 days, with a fall of -9.1% during this period. On the same day, the stock touched an intraday low of Rs 299.8, a decrease of -2.95%. However, the stock's moving averages are still higher than the 100-day and 200-day averages, but lower than the 5-day, 20-day, and 50-day averages.

One of the key highlights of ONGC's stock is its high dividend yield of 4.05% at the current price. This makes it an attractive option for investors looking for steady returns. However, it is important to note that this article does not recommend any investment decisions and is purely based on factual information.

In comparison to the Sensex, ONGC's stock performance in the past 1 day and 1 month has been -3.30% and -10.19%, respectively. This is lower than the Sensex's performance of -0.29% and 1.56% in the same time periods.

Overall, ONGC's stock has seen a decline in the recent days, but its strong market position and high dividend yield make it a company to watch out for in the oil exploration and refining industry.