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Informist, Friday, Oct. 10, 2025

 

NEW DELHI – Shares of oil and gas companies are likely to trade higher in the near-term, continuing the robust momentum seen in the last two weeks, analysts said. "On the daily chart, a rounding pattern formation suggests a solid base is developing," Vatsal Bhuva, a technical analyst at LKP Securities, said. Shares of oil and gas companies are expected to trade in a range, but higher, ahead of the earnings.

 

The Nifty Oil & Gas index closed flat on Friday at 11,467.25 points. This week, the sectoral index gained 0.8% as it underperformed the benchmark Nifty 50 index, which closed 1.6% higher. Aegis Logistics was the worst performer on the index this week as the share shed nearly 8%. In contrast, Indraprastha Gas was the top performer, up 3.4%.

 

"On the weekly chart, the Nifty Oil and Gas Index has closed above its 20-week EMA, indicating strength in the broader trend. The index is sustaining above its 20-day EMA, showing a bullish short-term outlook, though momentum may remain slow due to multiple resistances ahead," Bhuva said. If the market sentiment remains upbeat, he expects the index to test the 11,800-level on the upper end. The support for the index is seen at 11,300 points and resistance at 11,550 points. 

 

Oil and gas companies that are part of Nifty 200 are expected to report a profit growth of 22% on year and a revenue growth of 6% on year in Jul-Sept. Sequentially, profit is expected to fall by almost 20% while revenue is seen declining 2%. Upstream oil companies could report lower oil price realisations for the September quarter, which is expected to be offset by higher gas price realisations, higher sales volumes, and a weaker rupee.

 

JM Financial expects earnings before interest, tax, depreciation, and amortisation of oil marketing companies to fall between 16% and 37% on quarter due to a sharp moderation in gross marketing margin on auto fuels, but could be supported by a moderation in underrecoveries on liquefied petroleum gas.

 

Crude oil prices are expected to slip towards $60 per barrel on a strong dollar and ease in risk premium after Israel and Hamas agreed on a plan to end the war in West Asia. "Additionally, the prolonged US government shutdown has fueled concerns over economic growth and demand for oil," ICICI Securities said in a report.

 

TOP HEADLINES

* Andhra govt issues orders allotting 6,000 acres to BPCL in Nellore - Source
* Nomura sees lower marketing margins hitting EBITDA of oil, gas cos in Q2
* EIA sees Brent crude oil price down at $62/bbl in Oct-Dec, $52/bbl in 2026
* Oil India signs MoU with Mahanagar Gas for opportunities in LNG value chain
* Fitch affirms HPCL's issuer default rating at 'BBB-'; outlook stable
 

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	338.70	(-)0.80	351.20	331.00
Hindustan Petroleum Corp	452.50	1.40	465.40	444.40
Indian Oil Corp	154.11	2.50	158.20	151.60
Oil & Natural Gas Corp	246.34	1.10	249.20	242.20
Oil India	418.20	0.80	422.90	413.10
Reliance Industries	1381.70	1.30	1394.50	1368.70
NIFTY OIL & GAS	11467.25	0.80	11580.20	11396.70
Nifty 50	25285.35	1.60	25431.60	25083.80
S&P BSE Sensex	82500.82	1.60	82990.50	81828.10

End

 

US$1 = INR 88.69

 

Reported by Anand JC

Edited by Saji George Titus

 

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