Bharat Petroleum Corporation
Cairn India
GAIL India
Gujarat State Petronet
Hindustan Petroleum Corporation
Indian Oil Corporation
Oil India
Oil & Natural Gas Corporation
Petronet LNG
Reliance Industries
Note
All the above stocks form the BSE Oil & Gas Index.
Oil & Gas Sector Index includes stocks from Crude Oil and Natural Gas Exploration, Refinery, Marketing of different petroleum products and other related industries.
- Stocks trading above 200 day moving average
Shares are shown in blue colour - Stocks trading below but close to 200 day moving average
Shares are shown in orange colour - Stocks trading much below 200 day moving average
Shares are shown in red colour
Oil & Gas Sector Trend BSE Oil & Gas Sector Index is trading below 200 day moving average. Crude oil price from a low of $34 per barrel has moved around $100. Outperformers: Cairn India, Petronet LNG, BPCL, Castrol. Buy for long-term: Reliance Industries
Technically strongest stock appears on the left hand side and weakest on the right hand side.
Out of 10 Oil & Gas stocks 3 are trading above 200 day moving average.
Only 30% of Oil & Gas stocks are trading above 200 day moving average.
Hopes of deregulation of oil sector pushed the share price of oil marketing companies (OMC) up. The hopes hit roadblocks as oil price and inflation moved up.
Higher oil price resulted in higher subsidy burden and taxes for oil producing companies.
Underperformers: Essar Oil, Chennai Petroleum, GAIL India, GSPL.
