The Indian stock market witnessed a surge in energy stocks today amid reports of Saudi Aramco’s interest in investing in Indian refineries. This news has put public sector oil companies like ONGC and BPCL in the spotlight, with both stocks showing strong technical signals.

Oil and Natural Gas Corporation

Oil and Natural Gas Corporation (ONGC), India’s largest crude oil and natural gas producer, saw a 4% jump in its stock price today, driven by a strong volume spike. The stock is trading above its 50-day moving average, with the 10-day and 21-day moving averages turning upward, indicating bullish momentum. The recent surge in interest has made ONGC a stock to watch in the coming sessions.

Bharat Petroleum Corporation

Bharat Petroleum Corporation Ltd (BPCL), a key player in crude oil refining and petroleum marketing, is approaching a channel breakout. A notable volume spike and its position above the 50-day moving average indicate an uptrend, signaling further potential upside if momentum sustains.

With Saudi Aramco’s reported interest in Indian refineries, energy stocks are expected to remain in focus. Investors will be closely monitoring developments to assess their impact on these key players.

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