Reliance shares drop 1% from record high; ONGC down 2%— How to trade these oil companies amid US-Venezuela conflict?

Shares of oil marketing and refining companies, including Reliance Industries and Oil and Natural Gas Corporation (ONGC), traded with volatility in intraday deals on the BSE on Monday, January 5, following the US attack on Venezuela.

Reliance share price hit an all-time high of ₹1,611.20 but dropped over 1% from its peak to hit an intraday low of ₹1,588.70. On the other hand, ONGC’s share price dropped over 2% to an intraday low of ₹235.75 after rising over 2% to an intraday high of ₹246.55.