Crude Oil At $115: Oil Marketing Companies' Shares Plummet Up To 7.5% As Brent Crude Jumps On Middle East Crisis; Details

Oil Marketing Companies Stocks Today: The shares of Oil marketing companies reacted sharply to the sharp increase in the crude oil price due to escalating tension in the Middle East. The Brent Crude price soared to $115 per barrel from the $102-$105 level in the previous session. At the time of writing, Brent Crude Price quoted at $115.6, $8.17 or 7.16 per cent.

Reacting to the development, shares of oil marketing companies (OMC) plunged up to over 7.5 per cent as the surging crude price could shrink their refining and marketing margin.

Oil Marketing Shares Today

Hindustan Petroleum share Price: Shares of Hindustan Petroleum Corporation Ltd tumbled over 7.5 per cent to hit the 52-week low of Rs 321.50 on NSE (till 3:10 PM). Bharat Petroleum Share Price: The shares of government-owned Bharat Petroleum Corporation Ltd plummeted over 5.7 per cent to a day's low of Rs 284.40.

Also Read: Gold Price Outlook: Why Bullion Price Didn't Rally Despite Middle East War Crisis; Can Gold Hit Rs 2 Lakh?

Indian Oil Corporation Share Price: The shares of the oil marketing company dipped nearly 4 per cent to a day's low of Rs 142.05 against its last day's closing of Rs 148.27.

Stock Market Today 

The domestic equity indices plummeted over 3 per cent as Crude prices surged over $115 per barrel amid the escalating geopolitical tension in the Middle East. BSE Sensex plunged 2,496.89 points or 3.26 per cent to settle at 74,207.24, while Nifty50 ended the session at 23,002.15, down 775.65 points or 3.26 per cent.

All the stocks from the Sensex basket settled in negative territory with Eternal, Bajaj Finance, Mahindra And Mahindra, HDFC Bank, L&T, Bajaj FinServ, Trent, Indigo, Axis Bank, Infosys, Maruti, TCS, HCL Tech, Tech Mahindra, Ultratech Cement, Adani Ports and Asian Paints being the top losers.

Also Read: Stock Market Crash: Sensex Falls 2,496 Points, Nifty Plummets Over 3%; Why Was Share Market Down Today?

Among Sectoral front, Nifty Fin Services and Nifty Bank plummeted in the range of 3.3 to 3.7 per cent. While Nifty Auto fell over 4 per cent, Nifty FMCG plummeted over 2.5 per cent, while Nifty IT plunged 3.3 per cent.