Nifty Oil & Gas Surges 5.95% as 27 of 34 Stocks Advance

MarketPulse summary: Nifty Oil & Gas rose 5.95% (613.05 points) to 10,916.30. Across 34 listed Oil & Gas stocks, 27 advanced and 7 declined.

📊 Key Numbers

🎯 What Happened

The Nifty Oil & Gas index surged 5.95% on 2 Nov 2026, with heavyweight Reliance Industries leading the charge. The index closed at 10916.3, up 613.05 points from the previous close of 10303.25, marking a strong session for the sector.

The rally was broad-based, with 27 of the 34 stocks in the NSE-listed industry group advancing and only 7 declining. However, large caps clearly outperformed: the top 10 stocks by market capitalisation gained an average of 4.07%, compared with 1.42% for smaller stocks. The market-cap weighted change of 8.26% also exceeded the index’s 5.95% rise, underlining the influence of bigger companies. Reliance Industries jumped 11.6%, while Gujarat Natural Resources rose 8.02% and Ganesh Benzoplast gained 7.1%. GAIL (India) and Castrol India advanced 5.41% and 4.52%, respectively.

For ordinary investors, the breadth score of 58.8 and median gain of 2.71% suggest that the rally extended beyond a handful of stocks, though the biggest gains were concentrated in larger names. At the same time, the session was not uniformly positive. IRM Energy fell 5.58%, Indraprastha Gas slipped 4.5%, and Kotyark Industries declined 4.27%, showing that some stocks did not participate in the upswing.

The next data points to watch are whether breadth remains strong, whether smaller stocks begin to match large-cap gains, and whether laggards such as city gas names continue to trail the sector.

🏢 Large Caps vs Smaller Stocks

🚀 Top Gainers

📉 Top Losers

Stock universe: all 34 NSE-listed Oil & Gas companies with a price today, not only the official index constituents.

Data from NSE and public market sources, compiled automatically by MarketPulse. Figures may be delayed or revised. This is not investment advice.