Significance of Nifty 50 Membership
ONGC’s inclusion in the Nifty 50 index underscores its role as a bellwether for the Indian equity market, particularly within the oil and energy sector. As one of the largest companies by market capitalisation, valued at approximately ₹2,92,240 crores, ONGC’s stock movements often influence investor sentiment and index performance. The company’s presence in this benchmark index ensures heightened visibility among institutional investors and index funds, which typically allocate capital in line with index composition.
However, the stock’s recent trading activity shows it is currently positioned below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signalling a period of c...
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