Oil & Gas index down 4.5% on court verdict

The BSE Oil & Gas index was the major laggard today. The index touched a low of 10,009, down 482 points from day's high. It finally ended with a loss of 4.5% at 10,036.

In the process, the index has declined 3.5% in the last month.

Reliance plunged 7.5% to Rs 2,180. Reliance Petroleum slumped 7% to Rs 136. Essar Oil declined 6% to Rs 158.

Aban Offshore dropped 5% to Rs 958. Cairn India and Gail India slipped 1-2% each.

On the other hand, Reliance Natural Resources zoomed 24% to Rs 108.

HPCL and BPCL surged 3.5% each to Rs 314 and Rs 430, respectively. IOC added 1% to Rs 562.
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(Updated at 1232 hrs)

The BSE Oil & Gas index has shed after the Bombay High Court gave its verdict on the RIL-RNRL case. The HC has ruled in favour of Reliance Natural Resources. The index has dropped 3.5% to 10,138 and has decreased 2% in the last month.

Reliance has slumped 7% to Rs 2,198 after the ruling. The stock opened at Rs 2,329 and touched a low of Rs 2,192.

Reliance Petroleum has plunged 6.5% to Rs 137 after touching a high of Rs 147. Over 1.80 million shares have been traded on the BSE today.

Gail, Essar Oil, IOC, Aban Offshore and Cairn Indian have slipped 1-2% after the verdict.

However, Reliance Natural resources has zoomed 22% to Rs 106. ONGC has added 3% to Rs 1,159.