Oil Stocks Outlook
To remain range-bound in near term
This story was originally published at 20:41 IST on 12 September 2025
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NEW DELHI – Stocks that are a part of the Nifty Oil & Gas index are expected to remain range-bound in the near term after the index managed to close in the green for the second consecutive week, analysts said. "Nifty Oil & Gas index is hovering below its 100 & 200 DEMA (double exponential moving average) on daily charts and might continue sideways in the coming week as well," a Mumbai-based technical analyst said.
Nifty Oil & Gas index closed largely flat on Friday at 11091.15 points. For the week, it closed up 1.4%, marginally lower than the benchmark Nifty 50 which closed 1.5% higher. Shares of only four companies that are a part of the 15-stock strong sectoral index closed in the red. Hindustan Petroleum Corp. was the top performer with a gain of nearly 4%.
Immediate support for the Nifty Oil & Gas index is seen at 10850 points and resistance is pegged at 11300 points, the analyst said. Shares of oil marketing companies and GAIL (India) are showing positive momentum currently, the analyst said.
Spot liquefied natural gas prices have declined nearly 13% on year and over 7% on month. This is due to post-winter demand softness in Asia and Europe, coupled with elevated storage levels in the Western markets, Systematix Institutional Research said in a note earlier this week. It expects the gas sector to benefit from lower spot LNG prices.
Analysts at Systematix noted that the industrial slowdown in China has reduced import appetite, which has a bearing on oil prices. Persistent strength in the dollar has also weighed on crude demand globally.
Friday, oil prices recouped some of the losses seen in early trade. "Prices (currently) witness pressure by signs of weakening US demand and expectations of a supply glut," Kotak Securities said in a note.
TOP HEADLINES
* EIA says US natural gas stocks rise 71 bcf in the week ended Sept 5
* Adani Ports bans entry of ships sanctioned by US, Europe, UN, say sources
* OPEC retains 2025 demand growth view of 1.3 mln bpd; 2026 growth view unch
* Oil India to form 50-50 joint venture with Rajasthan power genco
* IEA ups global oil supply growth view for 2025, 2026 on OPEC output hikes
* EIA expects Brent crude to fall to $59/ bbl in Oct-Dec, $50/bbl in 2026
* Focus Energy, others raise claim of INR 5.29 bln vs GAIL over gas supply row
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 | 318.00 | 1.80 | 325.60 | 313.30 |
| Hindustan Petroleum Corp | 398.75 | 4.00 | 403.30 | 394.30 |
| Indian Oil Corp | 142.61 | 2.10 | 146.20 | 140.60 |
| Oil & Natural Gas Corp | 233.25 | (-)0.40 | 236.50 | 231.10 |
| Oil India | 398.40 | 0.50 | 403.90 | 390.60 |
| Reliance Industries | 1395.00 | 1.50 | 1406.40 | 1374.80 |
| NIFTY OIL & GAS | 11091.15 | 1.40 | 11178.80 | 11030.90 |
| Nifty 50 | 25114.00 | 1.50 | 25198.60 | 24995.80 |
| S&P BSE Sensex | 81904.70 | 1.50 | 82197.80 | 81494.80 |
End
US$1 = INR 88.28
Reported by Anand JC
Edited by Ashish Shirke
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