Market Now: Oil & gas index down 1%; IOC, IGL, HPCL top drags


NEW DELHI: Shares of Indian Oil Corporation (down 2.23 per cent), Indraprastha Gas (down 2.19 per cent) and HPCL (down 1.53 per cent) were trading in the negative zone in Wednesday’s trade amid firm global crude oil prices.

The BSE Oil & Gas index was trading 0.96 per cent down at 15,473 around 12:30 pm (IST).

Shares of ONGC (down 1.06 per cent), Reliance Industries (down 0.97 per cent) and BPCL (down 0.74 per cent) were also in the red in the index.

However, shares of Oil India (up 2.28 per cent), GAIL (India) (up 0.38 per cent) and Petronet LNG (up 0.06 per cent) were trading with gains around that time.

Across the board selling, triggered by negative Asian cues, weighed on benchmark indices.

The NSE Nifty50 index was down 77 points at 10,349, while the BSE Sensex was 249 points down at 33,607.

Among the 30 stocks in the Sensex index, 4 were trading in the green, while 26 were in the red.

With a loss of over 2 per cent, Hero MotoCorp was the top losers in the Sensex index around 12.30 pm, while shares of YES Bank were trading with a gain of over 1 per cent around the same time.

Source: Economic Times