Oil & gas stocks rally on multiple triggers; ONGC among top Nifty gainers
Of 15 stocks in Nifty Oil & Gas, 13 rallied and two (Gujarat Gas and Indraprastha Gas) were flat with negative bias in the early morning session today. Oil and Natural Gas Corporation shares were among the top Nifty50 gainers today, up more than 2.5 per cent on the NSE.
Energy stocks are in demand as the Nifty Oil & Gas index jumped as high as 1 per cent, contributing most to the overall market, during Tuesday’s session. The surge in the sector can be attributed to multiple triggers including windfall tax cut, LPG price revision, and new gas policy among others.
Of 15 stocks in Nifty Oil & Gas, 13 rallied and two (Gujarat Gas and Indraprastha Gas) were flat with negative bias in the early morning session today. Oil and Natural Gas Corporation shares were among the top Nifty50 gainers today, up more than 2.5 per cent on the NSE.
While stocks such as HPCL, Adani Total Gas, Castrol India, IOCL, BPCL, Oil India were up between 1-2 per cent, followed by Gail India, Reliance Industries, and Petronet LNG were up in the range of 0.3-1 per cent today on the NSE.
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