Petronet LNG Sees Surge in Open Interest Amid Increased Trading Activity

Petronet LNG Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 38,337 contracts, marking a rise of 3,767 contracts or 10.9% from the previous open interest of 34,570. The trading volume for the day reached 20,281 contracts, contributing to a futures value of approximately Rs 43,631.52 lakhs and an options value of Rs 6,576.81 crores, bringing the total value to Rs 44,197.38 lakhs.
In terms of price performance, Petronet LNG has underperformed its sector by 1.57%, with the stock declining for three consecutive days, resulting in a total drop of 4.5% during this period. The stock touched an intraday low of Rs 291.2, reflecting a decrease of 3.38%. Currently, Petronet LNG is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.

Despite these challenges, the stock maintains a high dividend yield of 3.33% and shows sufficient liquidity for trades sized at Rs 1.26 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest suggests a significant shift in trading dynamics for Petronet LNG, warranting close observation.