Therefore, oil marketing companies (OMC) are expected to further absorb the increase in the oil prices, reported a leading news agency. In Wednesday’s trade, BSE Oil & Gas index declined by 263 points or 1.7% to close at 15,234 level.
BPCL was the top loser ending at Rs 500.35 per share, down by 6.23%. Hindustan Petroleum was the second top loser, closing at Rs 457.35 per share, down by 5.06%. IOC was down by 5.06%. OIL was down by 2.29% at Rs 323.6 per share. IGL, Petronet, ONGC and GAIL also closed in the negative territory.
Meanwhile, Nifty ended at 10,079 level, down by 13 points, while Sensex closed at 32,186 level, up by 27 points. There were 483 advances, 952 declines and 52 unchanged stocks on NSE, reflecting fairly negative sentiments floating in the market.
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