Oil Marketing Company Stocks Gain As Crude Oil Slumps

Posted By:
Subscribe to GoodReturns

Shares in oil marketing companies rallied after crude oil prices slumped. An upgrade on stocks like HPCL and BPCL by a leading foreign broking firm, also pushed these stocks higher.

Oil Marketing Company Stocks Gain As Crude Oil Slumps
Hindustan Petroleum Corporation: Quotes, News
BSE 562.55BSE Quote5.65 (1.00%)
NSE 562.40NSE Quote5.2 (0.92%)
Bharat Petroleum Corporation: Quotes, News
BSE 704.75BSE Quote4.35 (0.62%)
NSE 703.95NSE Quote3.7 (0.53%)
BPCL was trading with gains of 3 per cent, while HPCL was trading with gains of 2 per cent. Crude oil prices slumped in trade after worries over Chinese consumption. Extremely high production in Saudi Arabia also kept a lid on prices.
Brent Crude was trading at $55 a barrel on record Saudi output.

Poor data from China also saw selling pressure in crude oil.

GoodReturns.in

Read more about: hpcl, bpcl, crude oil
Story first published: Tuesday, March 24, 2015, 13:06 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'