Shares of the state-run oil marketing companies fell by 4.38% to 5.68% at 10:59 IST on BSE after Brent crude prices moved higher.
BPCL (down 5.68%), HPCL (down 4.96%), and Indian Oil Corporation (IOCL) (down 4.38%) declined.
Meanwhile, the S&P BSE Sensex was up 3.42 points, or 0.01%, at 35,493.46.
In the global commodities markets, Brent for August 2018 settlement was up 28 cents at $76.59 a barrel. The contract had jumped $1.58 a barrel or 2.11% to settle at $76.31 a barrel during the previous trading session.
Higher crude oil prices could increase under-recoveries of public-sector undertaking oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
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