Shares of oil marketing companies (OMCs) gained up to 4 per cent on the BSE in Thursday’s intra-day trade as crude oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East (ME). That apart, rising crude inventories and production in the US, the world’s biggest oil consumer, also contributed to the dip in oil prices.
Among individual stocks, Hindustan Petroleum Corporation (HPCL) rallied 4 per cent to Rs 515 on the BSE in intra-day deals, followed by Bharat Petroleum Corporation (BPCL) by 3 per cent to Rs 625.15 and Indian Oil Corporation (IOC) by 1 per cent at Rs 172. In comparison, the S&P BSE Sensex was up 0.30 per cent at 74,703.
