OMCs trade weak; BPCL, HPCL, IOCL hit 52-week lows

Thus far in the calendar year 2018, HPCL (down 42%), BPCL (down 36%) and IOCL (down 24) have slipped more than 20% against 10% rise in the S&P BSE Sensex.

Shares of all three listed state-owned oil marketing companies (OMCs) hit their respective 52-week low on the BSE on Wednesday in intra-day deals.

Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOCL) were down 3% to 4% on the BSE in intra-day trade. On comparison, the S&P BSE Sensex was trading flat at 37,412 points at 09:58 am.

Thus far in the calendar year 2018, HPCL (down 42%), BPCL (down 36%) and IOCL (down 24) have slipped more than 20% against 10% rise in the benchmark index.

Today, the rupee fell another 0.13