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Crude oil Price rises, OMC stocks Fall

Shares of state-run oil marketing companies such as Bharat Petroleum (BPCL), Hindustan Petroleum (BPCL) and Indian Oil Corp (IOC) fall after Brent crude prices ascended in international market.

At around 3.00pm, Wednesday, HPCL were trading lower by 4.09% to Rs262.75 per share,  BPCL were at Rs364.40 down 4.23% and IOC were at  Rs 154.50 down by 2.31% lower.

In the global commodities markets, Brent crude Oil for May 2019 settlement was up 49 cents at USD69.86 per barrel. The contract rose 0.52 percent to settle at USD69.37 a barrel during the previous trading session.

Meantime key benchmarks indices of Indian stock markets pared its morning gains  and were moving down trend with the Sensex lower by 85 points at 38,971-level and the Nifty down by 33points at 11,679-mark.

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