NIFTY Oil & Gas Index Down Today, After New EU Restrictions on Russian Oil
By Ankur Chandra | Published at: Jul 21, 2025 10:58 AM IST
Mumbai, July 21, 2025 – The NIFTY Oil & Gas index slumped 1.08% in early trade on Monday, with all 15 constituents trading in the red. As of 09:45 AM IST, the index was down 126.55 points at 11,645.35, compared to its previous close of 11,771.90. The decline follows the European Union reducing the price cap on Russian oil and implementing more sanctions on the shadow fleet that carries Russian oil. Major oil & gas companies like Reliance Industries and Nyara face restrictions in the European market if they do not comply with these new restrictions.
At 10:45 a.m. the index was down by 0.71%.
Sector Snapshot (as of 09:45 AM IST)
| Index Level | Open | High | Low | Last Price | Change | % Change |
|---|---|---|---|---|---|---|
| NIFTY Oil & Gas | 11,737.75 | 11,773.95 | 11,630.15 | 11,645.35 | -126.55 | -1.08% |
The decline was broad-based, with zero advances and all 15 stocks in the index posting losses, reflecting sector-wide selling pressure. The total traded value stood at ₹654.07 crore with over 80.86 lakh shares exchanged by 09:45 AM.
Key Contributors to the Fall
Top Losers by Absolute Change
| Stock | Last Price (₹) | Change (₹) | % Change |
|---|---|---|---|
| Reliance Industries | 1,444.00 | -32.00 | -2.17% |
| Gujarat State Petronet | 328.10 | -6.80 | -2.03% |
| Indraprastha Gas (IGL) | 213.79 | -1.28 | -0.60% |
| ONGC | 244.92 | -1.39 | -0.56% |
| GAIL India | 183.92 | -1.31 | -0.71% |
Reliance Industries, the index heavyweight, was the biggest drag, shedding ₹32 per share. ONGC and GAIL also contributed significantly to the negative sentiment in the oil & gas exploration and transmission space.
1-Year & 30-Day Performance Snapshot
| Stock | 1-Year Change | 30-Day Change |
|---|---|---|
| IGL | -59.33% | +4.57% |
| Reliance | -52.54% | +0.67% |
| ONGC | -22.94% | -2.22% |
| GAIL | -15.71% | +1.86% |
| BPCL | +13.07% | +9.57% |
IGL and Reliance have been the worst performers over the past year with sharp double-digit declines. In contrast, BPCL bucked the long-term downtrend with a 13% YoY gain and nearly 10% growth over the past 30 days.
Market Breadth (09:45 AM IST)
| Advances | Declines | Unchanged |
|---|---|---|
| 0 | 15 | 0 |
The negative breadth further underscored weakness across the board within the oil & gas segment. No stock in the index was in positive territory.
About the NIFTY Oil & Gas Index
The NIFTY Oil & Gas Index represents the performance of companies from the oil, gas, and petroleum sectors listed on the National Stock Exchange. It includes refiners, marketers, explorers, gas utilities, and transmission players like Reliance Industries, ONGC, Indian Oil Corporation, and GAIL India. The index hit a 52-week high of 13,607.20 and a low of 4,632.70. The current level is approximately 14.4% below its recent peak.
The index remains under pressure amid volatility in global crude prices and a mixed earnings outlook across energy players. Markets continue to monitor fuel price trends, refining margins, and policy developments for cues.
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