Indian energy sector stocks experienced significant declines in early trading, aligning with broader market weakness. The S&P BSE Energy Index stood at 11,632.22, down 2.49%, while the S&P BSE OIL & GAS Index was at 27,141.2, down 3.6%. The benchmark S&P BSE SENSEX traded at 76,555.79, down 2.99%, and NIFTY 50 was at 23,720.95, down 2.98% (as of approximately 9:24 AM IST).
This downturn follows a sharp rise in global crude oil prices, driven by escalating geopolitical tensions in the Middle East, including the ongoing conflict involving Iran, the US, and Israel.
Key Energy Stock Performances (as of March 9, 2026, early morning)
- Major Declines:
- HPCL: BSE ₹372.30 (-8.13%), NSE ₹373.70 (-7.72%)
- BPCL: BSE ₹324.50 (-8.00%), NSE ₹325.85 (-7.63%)
- IOC: BSE ₹157.00 (-6.88%), NSE ₹157.67 (-6.53%)
- GAIL: BSE ₹147.50 (-5.21%), NSE ₹147.46 (-5.30%)
- INOX GREEN ENERGY: BSE ₹143.40 (-5.22%), NSE ₹143.35 (-5.53%)
- GUJ. STATE PETRONET: BSE ₹281.50 (-4.19%), NSE ₹282.80 (-3.78%)
- CHENNAI PETROLEUM: BSE ₹970.50 (-3.62%), NSE ₹965.00 (-4.22%)
- Mixed or Limited Declines:
- ONGC: BSE ₹280.50 (+0.57%), NSE ₹278.20 (-0.27%)
- RELIANCE IND.: BSE ₹1,405.35 (+0.01%), NSE ₹1,397.00 (-0.56%)
- OIL INDIA: BSE ₹478.95 (-1.16%), NSE ₹477.50 (-1.44%)
- Gainers:
- SELAN EXPLOR: BSE ₹628.60 (+6.34%), NSE ₹638.00 (+7.53%)
- HIND.OIL EXP: BSE ₹162.00 (+3.35%), NSE ₹161.73 (+3.36%)
- DEEP INDUSTRIES: BSE ₹347.70 (+2.89%), NSE ₹344.45 (+2.00%)
Other notable movements included SUZLON ENERGY down around 4%, while PETRONET LNG and MRPL saw declines of 2-3%.
Data sourced from market updates as of 09:23-09:24 AM IST on March 9, 2026. Stock prices are subject to change during trading hours. Investors should monitor ongoing geopolitical developments and oil price movements for further impacts. This is not investment advice.