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Oil and gas companies rally on pricing hopes
Shares of oil and gas exploration companies rallied on hopes that there would be a revision in gas prices, fuelling sentiments for stocks from the sector. Indian Oil was the star performer jumping more than 5% in trade.
Oil India rallied more than 2.5% and was last traded at Rs 285 on the bourses. ONGC on the other hand was the top gainer from the Nifty rallying 2.57%.
Oil marketing companies like BPCL and HPCL also gained on the exchanges on reports that there could be a possible diesel hike in the coming days.
Reliance Industries, also into gas exploration was the only stock that lost marginal ground in trade today.
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