PSU oil marketing companies (OMCs) are trading jubilantly after international crude oil prices snapped its two session uptrend.
Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 744.00, up by 6.45 points or 0.87% from its previous closing of Rs. 737.55 on the BSE. The scrip opened at Rs. 740.80 and has touched a high and low of Rs. 744.00 and Rs. 737.25 respectively. So far 20751 shares were traded on the counter.
Hindustan Petroleum Corporation (HPCL) is currently trading at Rs. 312.00, up by 10.70 points or 3.55% from its previous closing of Rs. 301.30 on the BSE. The scrip opened at Rs. 301.20 and has touched a high and low of Rs. 312.50 and Rs. 299.95 respectively. So far 91598 shares were traded on the counter.
Indian Oil Corporation (IOC) is currently trading at Rs. 245.30, up by 3.85 points or 1.59% from its previous closing of Rs. 241.45 on the BSE. The scrip opened at Rs. 240.00 and has touched a high and low of Rs. 246.40 and Rs. 239.00 respectively. So far 44461 shares were traded on the counter.
Crude oil prices snapped the two session uptrend on week’s first trading session as they reversed their course during the session amid intensifying concerns over the financial turmoil in Euro-zone despite over the weekend Greek elections giving victory to pro-austerity parties. The oil prices climbed in early trades as the Greek polls ensured that worries over the break-up of European Union abate however, German Chancellor Angela Merkel’s words of caution dampened the hopes of a coordinated EU action to provide stimulus, dragging down oil prices. Moreover, the sharp appreciation in American greenback against a basket of currencies too made the crude prices expensive for holders of currencies.
Benchmark crude for July delivery declined by $0.76 or 0.9% to $83.27 a barrel, after trading as high as $85.60 and as low as 82.04, on the New York Mercantile Exchange. In London, the August delivery Brent crude plummeted $1.56 or 1.60% to $96.05 a barrel on the ICE.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1445.00 |
| Indian Oil Corp. | 143.15 |
| BPCL | 302.80 |
| HPCL | 375.65 |
| MRPL | 162.80 |
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