Sensex Falls 1,200 Points; Nifty Dips Below 22,800 in Market Slump

Ambit Capital downgraded Hindustan Petroleum Corporation, Bharat Petroleum and Indian Oil Corporation to ‘sell’ from ‘buy’.

The broker assigned price targets of Rs 254 for HPCL, Rs 224 for BPCL and Rs 118 for IOC. The move came amid a market slump, with the Sensex falling about 1,200 points and the Nifty slipping below 22,800.

Broker downgrade and price targets

Ambit cited revised outlooks for the oil marketing companies in its update. The new targets imply notable downside from current levels.

Stock snapshots

Below are the previous session closes and 52-week ranges for the three firms. Data reflect the last trading session.

Hindustan Petroleum Corporation (HPCL)

Hindustan Petroleum closed at Rs 336.25, up 3.53% or Rs 11.45.

Its 52-week high was Rs 508.45 on 05 January 2026; low was Rs 321.80 on 19 March 2026. It trades about 33.87% below its high and 4.49% above its low.

Bharat Petroleum Corporation (BPCL)

Bharat Petroleum ended at Rs 287.85, up 0.65% or Rs 1.85.

Its 52-week high was Rs 391.85 on 05 February 2026; low was Rs 262.95 on 07 April 2025. The stock sits 26.54% below its high and 9.47% above its low.

Indian Oil Corporation (IOC)

Indian Oil closed at Rs 144.70, up 1.40% or Rs 2.00.

Its 52-week high was Rs 188.90 on 27 February 2026; low was Rs 120.05 on 07 April 2025. The share is 23.4% below its high and 20.53% above its low.

Ambit’s cut lowers expectations for the oil marketing sector. Investors should weigh targets against market volatility.

Filmogaz.com will track further developments and provide updates as they emerge.