 "BSE oil and gas index down 3%")
Shares of oil and gas sector, mainly oil exploration companies such as Oil and Natural Gas Corporation (ONGC), Oil India, Reliance Industries, Gail (India) and Cairn India are down 1-4% on the BSE.
At 1518 hours, S&P BSE Oil and Gas index, the largest loser among sectoral indices, was down 2.6% or 281 points as compared to 0.49% or 142 points decline in the benchmark S&P BSE Sensex.
According to PTI reports, crude oil futures tumbled 4.28% to trade at Rs 4,030 per barrel as speculators indulged in reducing exposures after it fell to new multi-year lows in Asian trade.
Lower crude oil prices will result in lower realizations from crude sales for oil producers.
Among the individual stocks, ONGC and Oil India dipped 4% each as Rs 366 and Rs 572 on BSE. Reliance Industries slipped 2.8% to Rs 964, followed by Gail Indian down 2% at Rs 479 and Cairn India down 1% at Rs 257.
At 1518 hours, S&P BSE Oil and Gas index, the largest loser among sectoral indices, was down 2.6% or 281 points as compared to 0.49% or 142 points decline in the benchmark S&P BSE Sensex.
According to PTI reports, crude oil futures tumbled 4.28% to trade at Rs 4,030 per barrel as speculators indulged in reducing exposures after it fell to new multi-year lows in Asian trade.
Lower crude oil prices will result in lower realizations from crude sales for oil producers.
Among the individual stocks, ONGC and Oil India dipped 4% each as Rs 366 and Rs 572 on BSE. Reliance Industries slipped 2.8% to Rs 964, followed by Gail Indian down 2% at Rs 479 and Cairn India down 1% at Rs 257.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%