Oil firms surge

Shares of oil marketing companies on Monday ended as much as six per cent higher after Brent crude prices fell following a nuclear deal between Iran and world powers. Hindustan Petroleum Corporation surged six per cent to Rs 214.55, while Bharat Petroleum Corporation gained 4.45 per cent to close at Rs 347.50 on the BSE. Shares of Indian Oil Corporation rose 2.52 per cent to Rs 205.75. "Although the deal is an interim deal, it shows promise that crude oil prices might remain low for the foreseeable future, a positive sign for the Indian economy," said Raghu Kumar, Co-founder, RKSV.