Shares of four oil production and exploration firms fell 0.71% to 2.21% at 15:30 IST on BSE after fall in global crude oil prices in the previous session.
Meanwhile, the S&P BSE Sensex was down 231.08 points or 0.82% at 27,828.86.
Cairn India (down 2.21%), Oil India (down 0.87%), Reliance Industries (RIL) (down 0.71%) and ONGC (down 1%) declined. Lower crude oil prices would result in decrease in realizations from crude sales for oil exploration firms.
In global commodities markets, Brent crude oil futures for October settlement was up 21 cents at $49.26 a barrel. The contract had dropped 91 cents or 1.82% to settle at $49.05 a barrel during previous trading session.
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