Shares of three public sector oil marketing companies rose 1.49% to 2.77% at 9:48 IST on BSE after Indian Oil Corporation yesterday, 16 May 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 May 2016.
Indian Oil Corporation (IOCL) (up 1.49% at Rs 415.50), BPCL (up 2.77% at Rs 946.40) and HPCL (up 2.36% at Rs 855.55) rose.
Meanwhile, the S&P BSE Sensex was up 149.30 points or 0.58% at 25,802.53.
Petrol price was hiked by Rs 0.83 per litre and diesel price was raised by Rs 1.26 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 63.02 per litre and diesel costs Rs 51.67 a litre.
In the global commodities markets, Brent crude oil futures edged higher. Brent for July settlement was currently up 30 cents at $49.27 a barrel. The contract had risen $1.14 a barrel or 2.38% to settle at $48.97 a barrel during the previous trading session amid growing supply disruptions in Nigeria in the wake of militant threats.
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