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PSU OMCs decline as crude oil firms up

Capital Market 

Shares of the three state-run companies fell by 1.05% to 3.73% at 12:09 IST on BSE after prices firmed up in international market.

HPCL (down 1.05%), BPCL (down 3.48%) and (IOCL) (down 3.73%) declined.

The was down 118.01 points or 0.33% at 35,916.10.

Higher could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed of petrol and diesel.

In the global commodities markets, Brent for April 2019 settlement was up 62 cents at $64.23 a barrel. The contract rose $1.19 per barrel, or 1.91% to settle at $63.61 a barrel during the previous trading session.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 12:04 IST