Petronet LNG Sees Surge in Open Interest Amidst Market Activity Shift

Petronet LNG Ltd. has experienced a significant increase in open interest today, reflecting notable activity in the gas sector. The latest open interest stands at 42,788 contracts, up from the previous 35,529 contracts, marking a change of 7,259 contracts or a 20.43% increase. This surge in open interest comes alongside a trading volume of 26,405 contracts, indicating heightened market engagement.
In terms of price performance, Petronet LNG has been on a downward trend, with a 1D return of -0.41%, while the sector and Sensex reported returns of -0.32% and -0.90%, respectively. The stock has seen a consecutive decline over the past four days, resulting in a total drop of 1.57% during this period. Despite this, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is below its 5-day and 200-day moving averages.

With a market capitalization of Rs 47,550 crore, Petronet LNG maintains a high dividend yield of 3.13% at the current price. The liquidity remains robust, supporting a trade size of Rs 1.61 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Petronet LNG, amidst its recent price performance challenges.