Oil India Extends Winning Run; ONGC Climbs Despite Broad Market Selloff

As on 12 May 2026, Indian equity markets remained under heavy pressure with BSE SENSEX crashing 1,456 points and NIFTY slipping below 23,400, marking their fourth consecutive losing session. However,

& ONGC stocks emerged as standout performers amid the broader selloff. Oil India surged as much as much as 9.43% intraday and closed 7.66% higher, while ONGC gained up to 6.73%. Brokerage CLSA termed the government’s royalty cuts on crude oil and gas production as a significant positive for both companies. Oil India stock prices marked its fourth straight gaining session, whereas ended higher for the second consecutive day despite weak market sentiment. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.