The BSE Oil & Gas index is trading flat in the morning trade on
Friday. The index came under pressure in the early morning trade even as
global oil prices hit 3-month high following US airstrike that killed
key Iranian and Iraqi military personnel, raising concerns regarding
escalating Middle East tensions may disrupt oil supplies.
The oil prices on Wednesday were also lifted by China’s central bank saying it was cutting the amount of cash that banks must hold in reserve, releasing around 800 billion yuan (USD 115 billion) in funds to shore up the slowing Chinese economy.
Shares of OMC slipped led by BPCL, HPCL and IOC, which were down in the range of 1-2% respectively.
Shares of IGL also fell 1% in the Oil & Gas index. On the flip side, GSPL, ONGC, GAIL, Petronet and Castrol were up.
Shares of ONGC climbed 4% after the media reports said that it won all the seven oil and natural gas blocks on offer in the latest bid round.
Meanwhile, the domestic stock markets started Friday's session on a negative note as losses seen in financial, automobile and metal shares. The Sensex traded 68 points lower and the Nifty was down 23 points at 12,259.
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The oil prices on Wednesday were also lifted by China’s central bank saying it was cutting the amount of cash that banks must hold in reserve, releasing around 800 billion yuan (USD 115 billion) in funds to shore up the slowing Chinese economy.
Shares of OMC slipped led by BPCL, HPCL and IOC, which were down in the range of 1-2% respectively.
Shares of IGL also fell 1% in the Oil & Gas index. On the flip side, GSPL, ONGC, GAIL, Petronet and Castrol were up.
Shares of ONGC climbed 4% after the media reports said that it won all the seven oil and natural gas blocks on offer in the latest bid round.
Meanwhile, the domestic stock markets started Friday's session on a negative note as losses seen in financial, automobile and metal shares. The Sensex traded 68 points lower and the Nifty was down 23 points at 12,259.
NSE BSE TIPS FREE
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