Adani Total Gas, Gujarat Gas, GAIL Climb as Gas Stocks Rise 15% amid Global Supply Fears
the escalating US-Iran clash is impacting global gas prices. It is due to the critical supply routes, particularly through the Strait of Hormuz.
Gas stocks surge as Adani Total Gas, Gujarat Gas, and GAIL (India) Limited climb up to 15% amid rising global supply concerns, boosting investor sentiment in India’s energy sector.
The US-Iran conflict's impact on gas stocks has been observed directly. Gas-related stocks such as Adani Total Gas and Gujarat Gas rise sharply on Wednesday. Energy sector stocks surge up to 15% amid concerns over tightening gas supplies in India due to the continuing US-Iran war.
Adani Total Gas share price led the gains, climbing as much as 14.7% to hit an intraday high of ₹544.25. Gujarat Gas also rose up to 12% to ₹420 during the session. More gas connected companies also advanced, with Petronet LNG, Indraprastha Gas (IGL), GAIL (India), and Mahanagar Gas (MGL) increasing more than 2% each.
The increasing conflict including Iran and the Israel-US alliance has started to influence India’s energy market, mainly natural gas and LPG supplies. Disturbances in shipments through the Strait of Hormuz a prime global energy transit corridor, have tensed supplies as tanker movement faces heightened safety risks. No doubt, India remains completely dependent on imported gas to meet demand at the domestic level.
Stock market news India
Indian benchmark indices Sensex, Nifty refused over 1% on Wednesday after getting recover from the last session. The Middle East conflict kept investors cautious about its future impact on inflation and economic expansion. During this session, the price of oil remains volatile.
However, the Global markets showed strength. The MSCI Asia Pacific Index increased by up to 1.8%, marking its second consecutive day of gains after the Wall Street Journal reported that the International Energy Agency planned the largest crude reserve release in its history. On Wednesday, Brent crude fell up to 1% after plunging 11% in the last session.
