Key Events This Week
16 Feb: Stock opens strong at Rs.271.60 (+1.53%)
18 Feb: Intraday low of Rs.263 amid price pressure (-2.63%)
19 Feb: Surges to intraday high of Rs.272.15 (+3.74%) with volume spike
20 Feb: Hits new 52-week high at Rs.280.80 (+1.53%)
16 February 2026: Positive Start with 1.53% Gain
ONGC began the week on a positive note, closing at Rs.271.60, up 1.53% from the previous Friday’s close. The stock’s volume of 8,45,120 shares reflected steady investor interest, while the Sensex gained 0.70%, closing at 36,787.89. This initial strength set the tone for the week, supported by the company’s solid fundamentals and favourable market sentiment in the energy sector.
18 February 2026: Intraday Low Amid Price Pressure
Midweek trading saw a sharp reversal as ONGC faced selling pressure, closing at Rs.264.60, down 2.63%. The stock hit an intraday low of Rs.263, marking a 3.22% drop from the previous close. This decline was more pronounced than the Sensex’s 0.43% gain, signalling stock-specific weakness amid a cautious market environment. Despite this setback, ONGC remained above its key moving averages, indicating that the longer-term uptrend was intact.
19 February 2026: Strong Rebound with Volume Surge
ONGC rebounded impressively on 19 February, surging 3.74% to close at Rs.274.50. The stock reached an intraday high of Rs.272.15, supported by a remarkable volume spike of 2,38,88,856 shares, making it one of the most actively traded stocks by volume and value. Institutional interest was evident, with traded value exceeding ₹396 crore. The stock outperformed both the oil sector and the Sensex, which declined 1.45% amid volatile trading. This rally was accompanied by a 25.17% surge in derivatives open interest, signalling bullish market positioning.
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20 February 2026: New 52-Week High and Continued Momentum
Building on the previous day’s gains, ONGC hit a new 52-week high of Rs.280.80 on 20 February, closing at Rs.278.70, up 1.53%. The stock’s volume remained elevated at 97,69,335 shares, with a traded value of ₹272.05 crores, reflecting strong accumulation. Delivery volumes surged 72.9% compared to the five-day average, indicating robust investor conviction. The Sensex also recovered, gaining 0.41% to close at 36,674.32. ONGC’s sustained trading above all key moving averages confirmed its bullish technical stance.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-16 | Rs.271.60 | +1.53% | 36,787.89 | +0.70% |
| 2026-02-17 | Rs.271.75 | +0.06% | 36,904.38 | +0.32% |
| 2026-02-18 | Rs.264.60 | -2.63% | 37,062.35 | +0.43% |
| 2026-02-19 | Rs.274.50 | +3.74% | 36,523.88 | -1.45% |
| 2026-02-20 | Rs.278.70 | +1.53% | 36,674.32 | +0.41% |
Key Takeaways from the Week
Outperformance and Volatility: ONGC outpaced the Sensex by 3.80% over the week, demonstrating resilience despite midweek volatility. The stock’s ability to recover from an intraday low of Rs.263 to a new 52-week high underscores strong underlying demand.
Institutional and Derivatives Activity: Exceptional trading volumes and a 25.17% surge in derivatives open interest on 19 February highlight robust institutional interest and bullish market positioning. Elevated delivery volumes on 20 February further confirm accumulation by long-term investors.
Technical Strength: Sustained trading above all major moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day, signals a healthy medium- to long-term uptrend. The new 52-week high at Rs.280.80 marks a key technical milestone.
Valuation and Dividend Appeal: ONGC’s valuation metrics remain attractive, with a P/E ratio of 8.76 and a dividend yield exceeding 5%, offering a compelling risk-reward profile for income and value investors alike.
Sectoral Context: The stock’s outperformance amid mixed oil sector conditions and broader market volatility reflects company-specific strengths, including operational efficiency and market leadership.
Overall, ONGC’s weekly performance reflects a blend of fundamental robustness, technical momentum, and strong market participation, positioning it favourably within the large-cap oil sector landscape.
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