ONGC Surges on High-Value Trading and Institutional Interest Amid Oil Sector Rally

Robust Trading Activity and Price Momentum

ONGC’s trading session on 12 February was marked by significant liquidity and price strength. The stock opened at ₹276.00 and touched a new 52-week high of ₹280.30, representing an intraday gain of 2.08%. By 09:44 IST, the last traded price stood at ₹276.55, up 0.67% from the previous close of ₹274.60. This performance notably outpaced the oil sector’s 0.15% decline and the broader Sensex’s 0.45% fall, underscoring ONGC’s relative resilience amid mixed market conditions.

Importantly, ONGC has been on a consistent upward trajectory, registering gains for three consecutive sessions and delivering a cumulative return of 3.56% over this period. The stock is trading comfortably above its key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – signalling a sustained bullish trend and strong technical support.

Institutional Interest and Delivery Volumes

Investor participation has intensified, as evidenced by the delivery volume of 1.01 crore shares on 11 February, which surged 22.75% above the five-day average delivery volume. This increase in delivery volume suggests that long-term investors are accumulating shares rather than engaging in short-term trading, a positive indicator of confidence in ONGC’s fundamentals and future prospects.

The stock’s liquidity profile remains robust, with the average traded value over five days supporting trade sizes up to ₹7.57 crores without significant price impact. Such liquidity is crucial for institutional investors and large traders seeking to enter or exit positions efficiently.

Financial Metrics and Market Capitalisation

ONGC commands a formidable market capitalisation of ₹3,47,656.02 crores, firmly placing it in the large-cap category. The company operates within the oil industry and sector, which has recently experienced volatility due to fluctuating crude prices and geopolitical developments. Despite these challenges, ONGC’s mojo score stands at a healthy 71.0, reflecting a strong buy recommendation from MarketsMOJO, an upgrade from its previous hold rating as of 5 February 2026.

The mojo grade upgrade signals improved investor sentiment and confidence in ONGC’s operational performance and strategic outlook. The company’s market cap grade is rated 1, indicating its status as a top-tier large-cap stock with significant institutional interest and market influence.

Sectoral and Benchmark Comparison

While the broader oil sector has struggled to maintain momentum, ONGC’s outperformance by 0.73% on the day highlights its relative strength. The Sensex’s decline of 0.45% further accentuates ONGC’s defensive qualities and appeal as a blue-chip stock amid market turbulence. This divergence is particularly noteworthy given the stock’s recent three-day rally and new 52-week high, which may attract further buying from momentum-driven investors and funds.

Technical indicators reinforce this positive outlook, with the stock’s price consistently above all major moving averages, suggesting a well-established uptrend. Such technical strength often acts as a magnet for institutional buyers seeking stable, high-value stocks with growth potential.

Outlook and Investor Considerations

Investors should note that ONGC’s recent price action and volume surge are supported by solid fundamentals and favourable market positioning. The company’s large market cap and liquidity profile make it an attractive option for both retail and institutional investors aiming to capitalise on the oil sector’s recovery prospects.

However, potential risks remain, including global crude price volatility, regulatory changes, and geopolitical tensions that could impact the oil industry. Investors are advised to monitor these factors alongside ONGC’s quarterly earnings and operational updates to gauge sustained performance.

Conclusion

ONGC’s strong value turnover, rising delivery volumes, and upgraded mojo grade collectively underscore its appeal as a high-conviction buy in the current market environment. The stock’s ability to outperform its sector and benchmark indices while maintaining robust liquidity and institutional interest positions it favourably for investors seeking exposure to the oil sector’s recovery.

As the company continues to demonstrate operational resilience and price strength, market participants should consider ONGC a key stock to watch in the large-cap oil space, balancing growth potential with defensive qualities amid ongoing market uncertainties.

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