Several gas and oil-related stocks in India experienced sharp declines in early trading, reflecting pressure on the sector. Data from around 9:15 AM to 9:19 AM IST showed most stocks trading lower on both BSE and NSE.
Here are the key price movements:
- Adani Total Gas: BSE ₹547.90 (-0.66%), NSE ₹528.90 (-4.17%)
- Aegis Logistics: BSE ₹610.75 (-0.10%), NSE ₹604.20 (-1.23%)
- BPCL: BSE ₹280.60 (-2.52%), NSE ₹279.95 (-2.73%)
- Castrol India: BSE ₹182.40 (-2.67%), NSE ₹181.30 (-3.22%)
- GAIL: BSE ₹141.45 (-1.08%), NSE ₹139.30 (-2.50%)
- Gujarat State Petronet: BSE ₹254.05 (-0.12%), NSE ₹247.70 (-2.77%)
- Gujarat Gas: BSE ₹350.70 (-1.10%), NSE ₹344.15 (-2.95%)
- HPCL: BSE ₹326.85 (-2.80%), NSE ₹327.75 (-2.54%)
- Indraprastha Gas: BSE ₹156.15 (-0.26%), NSE ₹151.90 (-3.02%)
- IOC: BSE ₹142.00 (-1.87%), NSE ₹142.00 (-1.80%)
- Mahanagar Gas: BSE ₹951.10 (-1.77%), NSE ₹930.80 (-3.75%)
- Oil India: BSE ₹473.55 (-0.43%), NSE ₹477.45 (+0.41%)
- ONGC: BSE ₹267.00 (+0.62%), NSE ₹267.35 (+0.73%)
- Petronet LNG: BSE ₹248.70 (-3.45%), NSE ₹246.30 (-4.41%)
- Reliance Industries: BSE ₹1,400.00 (-1.03%), NSE ₹1,402.00 (-0.88%)
Benchmark indices also declined, with Nifty 50 at ₹22,687.45 (-1.85%) and Sensex at ₹73,561.33 (-1.30%).
Within the Nifty Oil & Gas segment, ONGC emerged as the top gainer with a rise of around 0.6%, while Petronet LNG (down 3.5%) and HPCL (down 2.8%) were among the notable losers.
The broader market context included a negative bias, with Nifty 50 down nearly 1.9% in early trade.
These declines align with ongoing concerns in the energy sector, including supply disruptions in global LNG and LPG routes due to geopolitical tensions in West Asia, particularly affecting imports through the Strait of Hormuz. This has led to higher crude oil prices and risks to volumes for companies reliant on imported gas, such as LNG terminals and city gas distributors.