State-owned oil companies rally as crude prices continue to slump, leading traders to bet on them as one of the domestic sectors to outperform during a period of uncertainty.
Brent for July delivery trading at $95.79 per barrel, down 25.21% since its 2012 high on March 1.
Oil refiners Hindustan Petroleum Corporation surges 6.2%, Bharat Petroleum Corporation advances 2.5%, while IOC rallies 3.4%.
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