More Stories

Informist, Friday, Sept. 26, 2025

NEW DELHI – A bullish momentum for oil and gas shares is still away and the stocks may continue to trade sideways, analysts said, as the sectoral index snapped its three-week gaining streak this week. "There is no strong momentum in the Nifty Oil & Gas index right now. We will see momentum building up only after it crosses 11400 points," said Vatsal Bhuva, a technical research analyst at LKP Securities.

On Friday, the Nifty Oil & Gas index closed 0.7% lower at 11132.50 points, in line with the sharp correction registered by the benchmark indices. For the week, the sectoral index lost 1.8%, much lower than the 2.7% loss in the frontline Nifty 50 index. Mahanagar Gas Ltd. was the top loser on the sectoral index this week as it declined nearly 8%, followed by Indraprastha Gas Ltd. and Aegis Logistics Ltd., both of which fell over 5%.

Analysts expect the coming days to be weak for the market as a whole, as per technical indicators. Bhuva expects the short-term support for the Nifty Oil & Gas index around 11000 points. "If the index gives up this support, it will continue to fall," Bhuva said. If the support is lost, the index is expected to fall up to 10700 points before attempting a recovery.

On Friday, West Texas Intermediate crude oil traded moderately lower around $64.7 per barrel but was on track for its strongest weekly gain in over three months amid geopolitical tensions, Kotak Securities said. "The rally has yet to break oil out of its tight range since early August, with markets balancing geopolitical risks against a looser supply outlook," it said in a note.

HSBC Global Research Friday said that it is bearish on oil prices and expects a global gas supply glut next year onwards. "Indian oil demand is very sensitive to the oil price and hence, this will likely benefit Indian oil and gas marketing companies," the firm said.

TOP HEADLINES

* BMI sees US natural gas prices avg $3.5/mbtu in 2025 vs $2.4/mbtu in 2024
* EIA says US natural gas stocks rise 75 bcf in week ended Sept 19
* India to scale up hydrogen output, become global hub, says Oil Minister Puri
* Andhra OKs petroleum mining lease to ONGC for 30 sq km in KG Basin - source
* ONGC hires Pipavav port, storage facilities for 5 years
* GAIL moves Mumbai-Nagpur-Jharsuguda pipline completion schedule to Dec. 31
* GAIL board OKs 3.25 mtpa capacity addition for Jamnagar-Loni LPG pipeline
* HEG board OKs granting unsecured loan of INR 2.10 bln to Bhilwara Energy
* Oil India, Rajasthan govt body join hands to develop 1.2 GW renewable energy
* ONGC, Oil India, GAIL seek govt aid to jointly build underground gas reserve
* SPOTLIGHT: GST hike, oil price dip to squeeze upstream oil cos' FY26 margin

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:

End

US$1 = INR 88.72

Reported by Anand JC

Edited by Subhojit Sarkar

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.