Nifty Oil & Gas Historical Returns
The Nifty Oil & Gas index tracks oil and gas producers, refiners and distributors.
Price history
Month-end values. Hover a year-end point for its value.
About Nifty Oil & Gas
The Nifty Oil & Gas index tracks oil and gas producers, refiners and distributors.
What it means for investors. Crude prices and government pricing decisions both move this sector; refiners and producers can react in opposite ways to the same oil move.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Oil & Gas | −10.5% | 10.9% | 5.5% | n/a | n/a | n/a | −38% | 23 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
NSE Indices daily index closing values (NSE archives, ind_close_all file). Data 7 Jul 2016 to 23 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Mutual funds linked to Nifty Oil & Gas
MFIC groups that invest in this market, with medians for each group (medians across open-ended schemes, regular plans (etfs for etf categories), growth option, from amfi navs; NAVs as of 23 Oct 2026).
| Fund group | Link | Schemes | 1Y median | 3Y CAGR median | 5Y CAGR median | Ahead of benchmark TRI, 3Y |
|---|---|---|---|---|---|---|
| Equity ETF: Sector: Energy, power & commodities (ETFs) | Track this market | 7 | −3.4% | +12.9% | n/a | – |
| Index Fund: Sector: Energy, power & commodities | Track this market | 2 | −4.2% | n/a | n/a | – |
| Sectoral/Thematic: Energy, power & commodities | Main market of active funds | 9 | −3.3% | +12.6% | +10.0% | 0 of 3 |
Groups follow AMFI categories; theme groups are MFIC's own grouping from scheme names. "Ahead of benchmark TRI" compares each scheme's 3-year return with its own benchmark's total return index as published by AMFI; it is not shown for index funds and ETFs, which aim to match their index. Listed by how closely the group follows this market, not ranked. Open a group for every scheme in it.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 23 Oct | −15.1% |
| 2025 | 13.8% |
| 2024 | 13.1% |
| 2023 | 12.5% |
| 2022 | 14.8% |
| 2021 | 33.0% |
| 2020 | n/a |
| 2016 part year | 0.0% |
Over 5 complete calendar years since 2017, Nifty Oil & Gas rose in 5. Best: 2021 (+33.0%). Worst: 2023 (+12.5%).
Year-end to year-end, from NSE Indices daily index closing values (NSE archives, ind_close_all file).
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Sep 2024 | Mar 2025 | −29.5% | 6 | not yet | — | — |
| Jun 2024 | Jun 2024 | −11.8% | <1 | Jul 2024 | 1 | General election results 2024 |
| Jan 2023 | Feb 2023 | −19.6% | 1 | Dec 2023 | 9 | — |
| Apr 2022 | Jun 2022 | −16.4% | 2 | Nov 2022 | 5 | RBI off-cycle rate hike |
| Oct 2021 | Feb 2022 | −15.3% | 4 | Apr 2022 | 1 | Russia–Ukraine war begins |
| Jun 2021 | Jul 2021 | −10.9% | 2 | Sep 2021 | 1 | — |
| Jul 2020 | Nov 2020 | −12.4% | 3 | Dec 2020 | 1 | — |
| Jan 2020 | Mar 2020 | −38.4% | 2 | Jul 2020 | 4 | COVID-19 declared a pandemic |
Each fall of 10% or more from a previous high, measured on daily data. The 8 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 69 | 12.5% | −19.8% | 74.1% | −1.7% to 41.3% | 67% |
| 3 years | 45 | 15.7% | 8.9% | 26.6% | 13.3% to 19.2% | 100% |
| 5 years | 21 | 16.6% | 6.4% | 23.9% | 11.9% to 18.2% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.85 | 80 |
| Gold (domestic, ₹) | 0.00 | 80 |
| 10-year G-Sec (bond fund) | 0.18 | 80 |
| USD/INR | −0.48 | 80 |
| Nifty Bank | 0.69 | 80 |
| Nifty PSU Bank | 0.69 | 80 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty Oil & Gas and the Nifty 50, year by year
| Year | Nifty Oil & Gas | Nifty 50 |
|---|---|---|
| 2026 to 23 Oct | −15.1% | −12.9% |
| 2025 | 13.8% | 11.6% |
| 2024 | 13.1% | 9.6% |
| 2023 | 12.5% | 20.9% |
| 2022 | 14.8% | 5.3% |
| 2021 | 33.0% | 25.2% |
| 2020 | n/a | 15.5% |
| 2016 part year | 0.0% | 4.0% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty Oil & Gas returned over the long run?
- Calculated from NSE Indices daily index closing values (NSE archives, ind_close_all file), Nifty Oil & Gas returned 5.5% a year over the 5 years to 23 Oct 2026, and 10.9% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Oil & Gas?
- In the data available from Jul 2016, the largest fall from a previous peak was −38.4%, from Jan 2020 to Mar 2020, and it regained the peak in Jul 2020 (4 months after the bottom). There were 8 falls of 10% or more, 2 of them 20% or more.
- How often has Nifty Oil & Gas been positive over one year?
- Across 69 one-year periods starting at month-ends, 67% were positive; the range was −19.8% to 74.1%. Over five-year periods (21), 100% were positive, with annualised returns from 6.4% to 23.9%.
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