Nifty Oil & Gas Dips Over 1.50% In Early Trade Despite Brent Crude Spike Amid Geopolitical Tensions
By Shishta Dutta | Updated at: Jun 13, 2025 02:51 PM IST
Mumbai, June 13: The Nifty Oil & Gas index opened sharply lower in Thursday’s early trade, dropping 177.10 points or 1.54% to 11,350.20. This decline was primarily driven by significant losses in downstream energy and gas distribution stocks, even as Brent crude prices surged 13% following Israeli airstrikes on Iran, which intensified fears of supply disruption in the Middle East.
Nifty Oil & Gas Index Snapshot (Early Trade on June 13th)
| Metric | Value |
|---|---|
| Previous Close | 11,527.30 |
| Open | 11,385.40 |
| Day’s High | 11,401.45 |
| Day’s Low | 11,324.95 |
| Last Traded Price | 11,350.20 |
| Change | -177.10 |
| % Change | -1.54% |
- 52-Week High: 13,607.20
- 52-Week Low: 4,632.70
- 30-Day Return: +2.39%
- 1-Year Return: -3.46%
Early Trend Turns Negative
Despite surging oil prices, the sector saw 13 stocks decline, while only 2 advanced, indicating concerns about input cost inflation and margin compression for downstream players.
(Data is as per the stock prices around 10:00 A.M, on June 13th).
Top Gainers
| Stock | Price (₹) | Change (₹) | % Change |
|---|---|---|---|
| Oil India (OIL) | 478.85 | +10.50 | +2.24% |
| ONGC | 250.10 | +2.22 | +0.90% |
Key Laggards
| Stock | Price (₹) | Change (₹) | % Change |
|---|---|---|---|
| BPCL | 308.35 | -10.30 | -3.28% |
| GAIL | 189.33 | -2.85 | -1.48% |
| HPCL | 382.30 | -10.25 | -2.61% |
| IGL | 196.10 | -7.04 | -3.47% |
| MGL | 1,334.40 | -36.10 | -2.63% |
| IOC | 140.90 | -2.09 | -1.46% |
What’s Ahead?
While upstream oil producers such as ONGC and Oil India benefited from a potential boost in crude realisations, the surging Brent crude prices also raised concerns regarding downstream refining margins and gas distributor costs. Consequently, investors divested shares in city gas distributors and Oil Marketing Companies (OMCs), anticipating pressure on their earnings if global oil prices remain elevated.
With the Nifty Oil & Gas index currently trading approximately 16.5% below its 52-week high, traders are likely to maintain a cautious stance amidst heightened global uncertainty. Volatility is expected to persist as the market continues to process evolving geopolitical risks and their economic ramifications.
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