Shares of four oil exploration and production firms fell by 0.91% to 6.31% at 11:23 IST on BSE as global crude oil prices further extended recent losses.
Cairn India (down 6.31%), ONGC (down 4.70%), Oil India (down 2.77%) and Reliance Industries (RIL) (down 0.91%) edged lower.The S&P BSE Sensex was down 402.21 points, or 1.58% at 25,004.12.
Lower crude oil prices would result in lower realization from crude sales for oil exploration firms.
In the global commodities markets, Brent crude oil futures edged lower. Brent for February settlement was down 90 cents at $33.33 a barrel. The contract had fallen $2.19 a barrel or 6.01% to settle at $34.23 a barrel during the previous trading session.
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