Shares of four oil exploration and production companies shed 0.26% to 2.37% at 14:20 IST on BSE as crude oil prices edged lower.
Meanwhile, the S&P BSE Sensex was down 358.77 points or 1.3% at 27,232.37.
Reliance Industries (RIL) (down 0.26%), Cairn India (down 2.37%), ONGC (down 1.61%) and Oil India (down 1.32%) declined. Lower crude oil prices would result in decrease in realizations from crude sales for oil exploration firms.
In global commodities markets, Brent crude oil futures edged lower as Donald Trump stunned the world by winning the US presidential election, throwing global markets into turmoil in a result reminiscent of June's Brexit vote. Brent for January settlement was off 56 cents at $45.48 a barrel. The contract had dropped 11 cents or 0.23% to settle at $46.04 a barrel during previous trading session.
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