Oil & Gas shares in focus; ONGC, Oil India, Gail rally up to 10%

On Thursday, Brent Crude prices crossed $50 per barrel-mark for the first time since March on demand recovery and hopes of Covid-19 vaccine

Shares of state-owned oil & gas companies rallied up to 10 per cent on the BSE in the intra-day trade on Friday as crude oil prices extended their northward journey. On Thursday, Brent crude price crossed $50 per barrel-mark for the first time since March on demand recovery and hopes of Covid-19 vaccine.

Among individual stocks, ONGC rallied 10 per cent to Rs 101 in the intra-day trade amid reports that Morgan Stanley has upgraded the stock, citing a higher probability of recovery in average selling prices and improved outlook on domestic production. 
 

The stock of oil & exploration company