Petronet LNG Sees Surge in Open Interest Amidst Challenging Market Conditions

Petronet LNG Ltd. has experienced a notable increase in open interest today, reflecting a shift in market dynamics. The latest open interest stands at 40,271 contracts, up from the previous figure of 35,693, marking a change of 4,578 contracts or a 12.83% increase. The trading volume for the day reached 15,903 contracts, contributing to a futures value of approximately Rs 28,816.72 lakhs.
Despite this uptick in open interest, Petronet LNG has underperformed its sector, showing a decline of 1.13% compared to a sector drop of 0.60%. The stock has been on a downward trend, losing 6.13% over the past five days, and is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has decreased significantly, falling by 40.9% against the 5-day average.

With a market capitalization of Rs 43,312.50 crore, Petronet LNG maintains a high dividend yield of 3.44%. The liquidity remains adequate for trading, with a size of Rs 1.34 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant development in the trading activity of Petronet LNG amidst a challenging performance landscape.