Major indices in the market were in a upward trend in the first half of the Wednesday’s trading session. Oil marketing companies dragged them down in the closing hours on the back of the buzz that Finance Ministry is unlikely to roll back fuel excise tax hike due to fiscal constraints. The government may thus ask state run oil marketing companies (OMC) to further absorb the increase in the oil prices, reported a leading news agency.
BSE Oil & Gas index closed at 15,234 level, down by 263 points or 1.7%. BPCL was the top loser on the index ending at Rs 500 per share, down by 6.3%. Hindustan Petroleum, IOC and OIL also ended in the negative terrain, down by more than 4%.
In the broader markets, BSE Mid-cap index closed at 15,935 level, down by 0.63% while BSE Small-cap index closed at 16,538 level, down by 0.48%.
Bank Nifty ended at 24,831 level, up by 47 points or 0.19%. IDFC Bank was the top gainer on the index closing at Rs 58.9 per share, up by Rs 1.5 per share or 2.61%.
BSE Healthcare index was the top gaining index, which closed at 13,504 level, up by 1.15%. Caplin Laboratories was the top gainer on the index ending at Rs 688 per share, up by 6.07%.
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