Shares of OMCs continue to fall, tumble up to 6%

Shares of oil marketing companies lost further ground today, led by HPCL, tumbling up to 6 per cent amid firming crude oil prices.

The scrip of Hindustan Petroleum Corporation Ltd (HPCL) fell 5.56 per cent, Bharat Petroleum Corporation 4.54 per cent and Indian Oil Corporation 1.28 per cent on BSE.

OMCs had lost up to 8 per cent in the previous trading session also.

Brent crude was trading 0.41 per cent higher at USD 77.94 a barrel, while WTI oil was up 0.14 per cent at USD 72.86 in Asian trade.

"Weak global cues and rising oil price continued to impact domestic market sentiment," said Vinod Nair, Head of Research, Geojit Financial Services.

 

The BSE Sensex plunged 179.47 points to end at 35,037.64.