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Informist, Friday, Jul. 25, 2025

 

NEW DELHI – Oil and gas shares are expected to continue falling next week amid weak sentiment across the market, analysts said. A Mumbai-based technical analyst has a bearish outlook on shares of this sector for the coming week. Analysts expect stock-specific action over the next two weeks, to be driven by the companies' financial results and management commentaries.

 

The Nifty Oil and Gas index ended Friday's session at 11,356.40, down nearly 2%. The sectoral index fell 3.5% for the week, compared to a 0.5% fall in the benchmark Nifty 50. "The broader market sentiment remained bearish throughout, with pronounced weakness evident across Media, Energy, Oil & Gas, PSU Bank, Auto, and IT sectors," analysts at Ashika Institutional Equities said in a note.

 

Not a single company of the 15 of Nifty Oil and Gas index closed in the green for the week. Mahanagar Gas was the biggest laggard for the week with a near-9% loss during the week, followed by Indraprastha Gas, down 6.5% and Reliance Industries, down nearly 6%. 

 

Mahanagar Gas disclosed its June quarter earnings during the week. While it reported a sixth consecutive quarter double-digit volume growth jump of 10% on year for the quarter, its sharply lower administrated pricing mechanism-led gas allocation drove its gross margin to its third-lowest level in the last ten quarters, according to ICICI Securities.

 

Three out of the 15 Nifty Oil and Gas companies, namely Indraprastha Gas, GAIL, and Adani Total Gas will disclose their June quarter earnings next week.

 

GAIL is expected to report a net profit of INR 19.7 billion for the June quarter, down nearly 28% on year. Its revenue is expected to grow 2.6% to INR 345.5 billion. Indraprastha Gas' bottom line for the reporting quarter is seen falling over 2% on year to INR 3.9 billion, while its revenue is forecast to grow nearly 12% on year to INR 39.2 billion.

 

ICICI Securities expects Nymex Crude oil prices to hold key support at $65 a barrel, and rise towards the $68 mark on improved risk sentiment and supply concerns from Russia. Upside in oil prices could be restricted if oil supply from Venezuela restarts, as it would ease supply concerns.

 

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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

Company	Price	Week-on-week  change in %	Resistance	Support
Bharat Petroleum Corp	332.90	(-)3.10	345.50	324.80
Hindustan Petroleum Corp	421.80	(-)2.00	440.30	410.90
Indian Oil Corp	146.96	(-)2.10	153.60	143.30
Oil & Natural Gas Corp	240.29	(-)2.40	247.00	235.90
Oil India	434.75	(-)2.90	455.90	422.50
Reliance Industries	1391.70	(-)5.70	1409.20	1375.40
NIFTY OIL & GAS	11356.40	(-)3.50	11642.90	11205.20
Nifty 50	24837.00	(-)0.50	25088.60	24680.60
S&P BSE Sensex	81463.09	(-)0.40	82315.30	80971.60

 

End

 

US$1 = INR 86.51

 

Reported by Anand JC

Edited by Deepshikha Bhardwaj

 

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