The equity shares of Oil and Natural Gas Corporation (ONGC) Limited have marked a significant surge in the past week on the Bombay Stock Exchange (BSE). The equity share price of the energy major surged to a maximum of 170.8 on 19 January 2022; being among the top gainers at both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). There is a general bullish trend in the scrip of the Energy Maharatna; the ONGC share rose over 25 per cent in the last month as compared the overall rise of 3.70 per cent in Sensex during this same period.
The outstanding performance of ONGC equity shares in the stock exchange can be attributed to the crude oil prices witnessing its seven-year high in the last one month. The crude oil prices have been rising significantly since the beginning of the year, witnessing a 25 per cent rise in the last four weeks.
The total volume of ONGC shares traded is 53,675 at the BSE. The market cap of ONGC is now over Rs 2,06,316.58 crore in BSE and 2.05 lakh crore in the NSE. The 52-week equity share of ONGC at the BSE reached it maximum of 172.80. ONGC is the highest corporate wealth creator in independent India.