Shares of gas transmission and distribution companies in India experienced a notable decline on Monday, with Petronet LNG shares dropping nearly 5% to ₹260.45 amid rising tensions in West Asia. The ongoing six-week conflict has caused significant volatility in global energy markets, impacting India's natural gas supply as the country relies heavily on imports. Other companies like Adani Total Gas and GAIL (India) also faced losses, with the former initially declining nearly 6% before recovering to trade 2% lower at ₹558.50. Analysts, including Ambareesh Baliga, noted that escalating tensions between Iran and the US could further increase oil prices, adding pressure to the gas sector. Gaurav Sharma from Globe Capital indicated that the oil and gas sector is likely to report weak performance in Q4 FY26 due to these geopolitical factors, with potential disruptions in maritime transportation and a depreciating rupee exacerbating the situation. The overall market sentiment remains cautious as investors monitor developments in West Asia.