Natural gas futures on India’s Multi Commodity Exchange (MCX) are deepening their recent decline, with the August contract trading at ₹264 per million British thermal units (mmBtu).
The bearish momentum has persisted for over a month, eroding previous attempts at a short-term rally and signaling continued selling pressure in the domestic energy market.
The slide in Indian natural gas prices reflects a steepening downtrend that has seen the contract lose approximately 12% of its value over the past week.
Technical analysis from Hindu Businessline suggests the downward trajectory is likely to continue.
The publication’s research bureau noted that the price action remains firmly biased to the downside, identifying a potential short entry point at ₹270/mmBtu.
This technical outlook aligns with the broader market sentiment that has driven the contract lower since the start of the month.
The slide in Indian natural gas prices reflects a steepening downtrend that has seen the contract lose approximately 12% of its value over the past week.