Shares of three oil exploration firms dropped by 0.4% to 1.73% at 9:45 IST on BSE after the crude oil prices dropped in the previous trading session.
Meanwhile, the S&P BSE Sensex was down 265.87 points or 1.05% at 25,347.92.
Among shares of oil exploration firms, Reliance Industries (RIL) (down 0.4%), Cairn India (down 1.73%), and ONGC (down 0.69%) declined. Oil India rose 0.88%.
In the global commodities markets, Brent crude oil futures steadied after a drop in the previous session triggered by concerns over Asia's economic health and as production remained high. Brent for November settlement was up 2 cents at $47.36 a barrel. The contract had fallen $1.26 a barrel or 2.59% to settle at $47.34 a barrel during previous trading session.
Lower crude oil prices would result in lower realizations from crude sales for oil exploration firms.
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