HPCL, BPCL, IOC surge on crude prices

State-owned oil companies rally as crude prices continue to slump, leading traders to bet on them as one of the domestic sectors to outperform during a period of uncertainty.

Brent for July delivery trading at $95.79 per barrel, down 25.21% since its 2012 high on March 1.

Oil refiners Hindustan Petroleum Corporation surges 6.2%, Bharat Petroleum Corporation advances 2.5%, while IOC rallies 3.4%.