OMCs, paint stocks decline after oil posts biggest one-day gain; ONGC rises

Among paint stocks, Asian Paints was trading nearly 4 per cent lower at Rs 1,543 apiece

Shares of oil marketing companies (OMCs), paints and aviation companies were trading in the negative territory on Friday, a day after the crude oil prices posted their biggest-one day gains on record after US President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

At 09:30 am, Bharat Petroleum Corporation (BPCL) was trading around 5 per cent lower at Rs 289 apiece on the BSE. Hindustan Petroleum Corporation (HPCL) was quoting 3.6 per