Shares of three public sector oil marketing companies rose by 0.91% to 2.72% at 11:51 IST on BSE after global crude oil prices declined on Friday, 4 December 2015.
HPCL (up 2.72% at Rs 844), Indian Oil Corporation (up 1.75% at Rs 435.50) and BPCL (up 0.91% at Rs 916) edged higher.
Meanwhile, the S&P BSE Sensex was down 21.09 points or 0.08% at 25,617.02
Decline in crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at government controlled prices. The government has already decontrolled pricing of petrol and diesel.
In the global commodities markets, Brent for January settlement was down 27 cents at $42.73 a barrel. The contract had fallen 84 cents or 1.91% to settle at $43 a barrel during the previous trading session on Friday, 4 December 2015.
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