Shares of four oil exploration and production companies dropped 1.15% to 3.89% at 09:55 IST on BSE on decline in crude oil prices.
Cairn India (down 3.89%), ONGC (down 2.56%), Reliance Industries (down 1.15%) and Oil India (down 2.48%) 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 down 199.51 points or 0.81% at 24,339.49
In the global commodities markets, Brent for April settlement was currently off 7 cents at $32.65 a barrel. The contract had declined $1.52 a barrel or 4.43% to settle at $32.72 a barrel during previous trading session.
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