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Shares of oil exploration and production companies are continue trading lower on the bourses with the BSE oil and gas index hits a seven-month low due to fall in global crude prices.
At 1000 hours, S&P BSE Oil and Index, the largest loser among sectoral indices, was down 0.72% at 9,993 as compared to 0.15% gain in the benchmark S&P BSE Sensex. The oil and gas index touched a low of 9,975, its lowest level since May 12, 2014, during intra-day trade.
Oil India (down 3.5% at Rs 547), Gail India (down 3.1% at Rs 430), Cairn India (down 2.5% at Rs 244), Oil and Natural Gas Corporation (down 1.6% at Rs 344) and Reliance Industries (down 0.11% at Rs 905.30) from the oil and gas index were trading lower on the BSE.
Brent has fallen more than 40%, or $50, from its 2014 high reached in June, putting pressure on oil companies.
At 1000 hours, S&P BSE Oil and Index, the largest loser among sectoral indices, was down 0.72% at 9,993 as compared to 0.15% gain in the benchmark S&P BSE Sensex. The oil and gas index touched a low of 9,975, its lowest level since May 12, 2014, during intra-day trade.
Oil India (down 3.5% at Rs 547), Gail India (down 3.1% at Rs 430), Cairn India (down 2.5% at Rs 244), Oil and Natural Gas Corporation (down 1.6% at Rs 344) and Reliance Industries (down 0.11% at Rs 905.30) from the oil and gas index were trading lower on the BSE.
Brent has fallen more than 40%, or $50, from its 2014 high reached in June, putting pressure on oil companies.
