Breaking out in the 3-digit price territory after a long time, ONGC emerged as a top gainer in the intra-day trade at both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 11 December 2020. The energy major touched the upper circuit in the early hours of Friday trade. On BSE, ONGC equity shares surged to a maximum of 9.99 per cent to Rs 101. At NSE too, ONGC shares surged to an intra-day high of Rs 104.4.

The outstanding performance of ONGC equity shares in the stock exchange came in the wake of bullish oil prices since the downturn struck in March 2020. The rise in price can be cited to the increase in demand out of Asia, with optimism over COVID vaccine progress lifting the consumption outlook.

Image Courtesy: BSE (bseindia.com)

The share of the Energy Maharatna closed at Rs 96.80 at BSE, up 5.68 per cent, as compared to the 30-share Sensex gain of 0.30 per cent during the day. At the broader National Stock Exchange (NSE), ONGC shares closed at Rs 96.80, up 5.62 per cent. The total volume of ONGC shares traded is 146,821,189 at NSE and 7,143,570 at the BSE.

The market cap of ONGC is now over Rs 1,21,777 crore (BSE), with around 5 per cent increase in the last two trading days. ONGC has the second highest market cap among Public Sectors Enterprises in India.