Shares of three public sector oil marketing companies fell 0.94% to 2.15% at 10:59 IST on BSE on higher crude oil prices.
Indian Oil Corporation (down 2.15%), HPCL (down 1.01%) and BPCL (down 0.94%), edged lower.
Meanwhile, the S&P BSE Sensex was up 185.99 points or 0.76% at 24,621.65.
In the global commodities markets, Brent for March settlement was currently up 41 cents at $32.59 a barrel. The contract had surged $2.93 a barrel or 10.02% to settle at $32.18 a barrel during the previous trading session on Friday, 22 January 2016.
Higher crude oil prices could increase under-recovery of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at government controlled prices. The government has already freed pricing of petrol and diesel.
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