Shares of state-run oil marketing companies rose 0.33% to 1.19% at 10:33 IST on BSE as crude oil prices slide in the international commodity market.
Meanwhile, the S&P BSE Sensex was up 140.63 points or 0.38% at 36,831.13.
Hindustan Petroleum Corporation (up 1.19%), Indian Oil Corporation (up 0.54%) and Bharat Petroleum Corporation (BPCL) (up 0.33%) advanced.
Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In the commodities market, Brent crude for October 2019 settlement was up $1.62 at $57.85 a barrel. The contract fell $2.71 or 4.59% to settle at $56.23 a barrel during the previous trading session.
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