Shares of domestic oil marketing companies will remain in spotlight after Brent Oil Futures slipped to a fresh 3-month low, negating the recent signal of reversal aimed at crossing $90 per barrel. Such technical moves suggest underlying weakness and may lead to further decline in the commodity.
Listed players in oil marketing companies such as Bharat Petroleum Corporation and Hindustan Petroleum Corporation zoomed over 6 per cent, while Indian Oil Corporation gained 2 per cent on Thursday.
The descend in the crude price has enabled these oil marketing players to reclaim the upward move, that had been lost due to the present