Oil exploration stocks slide along with crude oil prices

Image
Capital Market
Last Updated : Oct 28 2015 | 2:47 PM IST

Three oil exploration and production stocks fell 1.15% to 2.44% at 13:01 IST on BSE on slide in global crude oil prices.

Cairn India (down 2.44% at Rs 154.20), Oil India (down 2.1% at Rs 399.05) and ONGC (down 1.15% at Rs 245.25) edged lower. Reliance Industries (up 0.12% at Rs 940.30) edged higher.

Meanwhile, the S&P BSE Sensex was down 181.30 points or 0.67% at 27,024.90.

In the global commodities markets, Brent for December settlement was currently down 1 cent at $46.80 a barrel. The contract had fallen 73 cents or 1.53% to settle at $46.81 a barrel during the previous trading session. Lower crude oil prices will reduce realization from crude sales for oil exploration firms.

Powered by Capital Market - Live News

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 28 2015 | 1:02 PM IST

Next Story