ONGC Share Price Slumps 2.67% – Energy Stock Sees Heavy Selling on 9 April
Key Highlights:
Mumbai, 9 April 2025: Shares of Oil and Natural Gas Corporation Ltd (NSE: ONGC) fell sharply during early market hours, slipping 2.67% to ₹220.61 as of 10:00 AM IST. The fall reflects pressure from weak global crude oil trends and investor caution surrounding the broader energy sector.
Key Intraday Metrics
- Previous Close: ₹226.66
- Opening Price: ₹222.00
- Current Price: ₹220.61
- Day’s High: ₹223.50
- Day’s Low: ₹220.26
- 52-Week High: ₹345.00
- 52-Week Low: ₹205.00
Financial Snapshot
- Market Capitalization: ₹2.78 Lakh Crore
- P/E Ratio: 6.97
- Dividend Yield: 6.12%
ONGC remains one of the highest dividend-paying public sector undertakings (PSUs), with consistent profitability over the years despite global market headwinds.
Global Crude Oil Impact
ONGC’s stock performance is heavily correlated with international oil prices. A dip in Brent crude overnight has led to profit booking across the oil & gas pack. Market watchers cite concerns over demand slowdown in China and potential interest rate hikes in the US that could curb energy demand globally.
Technical Take
Technical analysts suggest that ONGC faces a support zone around ₹218, and a break below this may invite further downside toward ₹212. Resistance is seen at ₹226, where the previous close acts as a short-term ceiling.
What’s Driving Sentiment?
- Oil price volatility amid global slowdown fears
- FIIs pulling capital from energy-heavy PSU portfolios
- Sector rotation towards banking and FMCG counters
Despite ONGC’s strong fundamentals and attractive dividend yield, short-term traders are exiting positions fearing a deeper correction.
Analyst Commentary
“ONGC’s fundamentals remain intact, but in the short term, the stock is reacting to crude volatility and global cues. Long-term investors can consider accumulating around ₹210-₹215 levels,” said Manisha Khurana, PSU analyst at FinBridge Securities.
ONGC’s 2.67% drop on 9 April may look worrisome, but it largely reflects global commodity dynamics and short-term speculative unwinding. For long-term investors eyeing strong dividend yields and PSU stability, ONGC continues to remain a steady bet—provided they ride out the volatility ahead.
Stay with us for live updates, technical charts, and sectoral trends throughout the day.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald
