Shares of three state-run oil marketing companies rose 2.86% to 4.06% at 15:02 IST on BSE as global crude oil prices fell.
HPCL (up 2.86%), BPCL (up 3.72%) and Indian Oil Corporation (IOCL) (up 4.06%) gained.
Meanwhile, the S&P BSE Sensex was down 13.13 points or 0.05% at 27,864.95.
Decline in crude oil prices will 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 October settlement was currently off 26 cents at $48.48 a barrel. The contract had fallen 45 cents or 0.91% to settle at $48.74 a barrel during the previous trading session.
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