Oil shares extend rally on crude

HPCL-IOC-ONGC-OIL-CRUDE:Oil shares extend rally on crude

 

Reuters Market Eye - Oil shares continue to gain, tracking lower global crude prices, and helping index cut some of their losses, traders say. Hindustan Petroleum Corporation gains 1 percent, surging 12.2 percent this week as of Thursdays close.

Indian Oil Corporation adds 0.2 percent after gaining 9 percent for the week.

Explorers ONGC gains 1.7 percent, Oil India gain 3.12 percent adding 3.5 and 2.6 percent for the week respectively.

The Nifty was at 0.47 percent, fell as much as 1.37 percent intraday.

(manoj.dharra@thomsonreuters.com)