ONGC shares drop 4.1% as crude oil prices weigh on sector
The energy giant slipped in line with peers Chennai Petro and Oil India as declining crude oil prices weighed on the sector.
The energy giant slipped in line with peers Chennai Petro and Oil India as declining crude oil prices weighed on the sector. Published 2026-11-12 by Falling Shares.
| By Falling Shares Intelligence, edited by Wung Thomas, Editor-in-Chief
Written by Falling Shares Intelligence, our automated newsroom, from the public sources listed below and live market data. Every figure is checked against that material before publication, but the story has not been reviewed by a human editor. Check the linked sources before relying on it, and report errors to info@fallingshares.com.
ONGC shares fell 4.14% to 225.08 INR on Thursday, dragging the company’s market capitalisation to 2.83 trillion INR. The decline followed a broader slump in crude oil prices that hit the energy sector.
Sector peers slide on crude weakness
Chennai Petroleum Corporation shares fell 3%, while Oil India declined 1.4%, according to Moneycontrol. ONGC’s drop mirrored the wider NIFTY Energy index, which fell 0.6%, while the NIFTY 50 remained flat.
The stock is now 25.3% below its 52-week high of 307.5 INR. Over the past five days, the share price has fallen 0.8%, though it remains up 5.9% over the last month. Falling Shares rates the stock as Stable, noting annualised volatility of 18.5% against the benchmark’s 13.5%. There have been no sessions with moves of 5% or more in the past six months.
Technical signals turn negative
Falling Shares attributes 0.2% of the daily move to company-specific factors, after accounting for market and sector effects. The stock is now 11.7% below its 200-day average. The 50-day moving average has crossed below the 200-day, creating a death cross.
Volume for the day stood at 18,686,432 shares. The 52-week low is 218.53 INR. Reports reviewed by Falling Shares cited the general decline in crude oil prices as the driver, with no other specific causes identified.