Oil Stocks Outlook
Seen range-bound; focus on June quarter results
This story was originally published at 21:19 IST on 1 August 2025
Register to read our real-time news.Informist, Friday, Aug. 01, 2025
NEW DELHI – Shares of companies that are part of the oil and gas universe are expected to remain range-bound in the near future, having contracted this week, technical analysts have said. Movement of the shares could also be dictated by earnings of key oil companies such as Oil and Natural Gas Corp., Hindustan Petroleum Corp., Bharat Petroleum Corp., and Indian Oil Corp. in the coming days, they said.
The Nifty Oil & Gas index closed Friday's session at INR 11,090.80, down 1.5% from Thursday's close. A Mumbai-based technical analyst said 11,000 points is a crucial support level for the Nifty Oil & Gas index in the near term. "A decisive breakdown below this zone could open further downside towards 10,705," the analyst said. The immediate resistance level for the index is at 11,450 points, which needs to be breached in a sustained manner to confirm a bullish reversal for the index.
"Until either level is taken out decisively, the index is expected to remain range-bound between 11,000 and 11,450 (points). A breakout on either side of this range will likely determine the next directional move," the analyst said.
The sectoral index has fallen 2.3% in the past five trading sessions, far more than the 1.1% fall in the benchmark Nifty 50 this week. Only two stocks, Indraprastha Gas and Reliance Industries, that are part of the 15-stock Nifty Oil & Gas index closed higher this week, but only just. Gujarat Gas and Petronet LNG fell the most, down around 7% each.
Analysts expect oil marketing companies to report bumper results for the June quarter. Hindustan Petroleum will declare its results Thursday. Fellow oil and gas heavyweights ONGC, Indian Oil, and BPCL have not yet said when they will release their respective June quarter earnings.
Analysts at ICICI Securities expect NYMEX crude oil prices to slip towards the $67.50 level on a stronger dollar and disappointing economic data from China. "Further, prices may slip on concerns that US tariffs and higher borrowing cost will hurt economic growth and dent demand for oil," it said in a note Friday.
TOP HEADLINES
* IOC cuts 19-kg LPG cylinder price by INR 33.50 in Delhi to INR 1,631.5
* IOC ups ATF price by INR 2,677.88/kl to INR 92,021.93/kl in Delhi
* Analyst Concall: Indraprastha Gas sees post-tariff rise in EBITDA margin
* Govt hikes domestic natural gas price for August by 2% to $7.02/mBtu
* Gujarat Gas to supply 50,000 scm/day PNG to Waaree Energies' Gujarat unit
* Earnings Review: Adani Ent Apr-Jun PAT halves on year, revenue falls 14%
* ICRA upgrades Adani Total's long-term rating to AA+ from AA; outlook stable
* Earnings Review: Indraprastha Gas PAT down 11% YoY as natural gas costs rise
* Earnings Outlook: Higher natural gas prices to hit Indraprastha Gas' Q1 PAT
* GAIL, Rajasthan Rajya Vidyut Utpadan Nigam in pact for 50:50 JV
* Analyst Concall: GAIL cuts natural gas transmission guidance by 7% for FY26
* Earnings Review: Adani Total Gas PAT falls YoY for third straight quarter
* Earnings Review: GAIL Q1 PAT down 31% YoY on soft revenue growth, high costs
* Analyst Concall: Petronet LNG sees uptick in demand; FY26 capex INR 50 bln
* Petronet LNG to invest more in first greenfield LNG terminal in east coast
* Earnings Review: Petronet LNG net profit falls 25% YoY on weak gas demand
* Earnings Outlook: GAIL operating profit to fall on lower transmission volume
* GAIL gets PNGRB nod for capacity expansion of Jamnagar-Loni pipeline
* Chennai Petroleum posts INR 401-million consol loss in Apr-Jun vs PAT yr ago
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. | 317.85 | (-)4.50 | 334.00 | 308.50 |
| Hindustan Petroleum Corp. | 403.80 | (-)4.30 | 427.90 | 390.10 |
| Indian Oil Corp. | 141.03 | (-)4.00 | 148.30 | 137.00 |
| Oil & Natural Gas Corp. | 236.79 | (-)1.50 | 243.80 | 230.50 |
| Oil India | 434.05 | (-)0.20 | 444.70 | 424.70 |
| Reliance Industries | 1393.70 | 0.10 | 1416.20 | 1373.00 |
| Nifty OIL & GAS | 11090.80 | (-)2.30 | 11337.10 | 10948.90 |
| Nifty 50 | 24565.35 | (-)1.10 | 24877.30 | 24379.10 |
| S&P BSE Sensex | 80599.91 | (-)1.10 | 81626.30 | 79982.40 |
End
Reported by Anand JC
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
