Four oil exploration and production stocks declined by 0.09% to 2.74% at 14:20 IST on BSE as global crude oil prices declined sharply yesterday, 9 May 2016.
Cairn India (down 2.74%), Oil India (down 1.76%), ONGC (down 1.32%) and Reliance Industries (down 0.09%) edged lower. Lower crude oil prices will result in lower realization from crude sales for oil exploration firms.
Meanwhile, the S&P BSE Sensex was up 70.53 points or 0.27% at 25,759.39
In global commodities markets, Brent for July settlement was currently up 54 cents at $44.17 a barrel. The contract had tumbled $1.74 a barrel or 3.83% to settle at $43.63 a barrel during the previous trading session on indications wildfires may not have the impact previously feared on Canadian crude output.
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