Oil and gas companies rally on pricing hopes

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     Oil and gas companies rally on pricing hopes
    Indian Oil Corporation: Quotes, News
    BSE 146.05BSE Quote1.45 (0.99%)
    NSE 145.95NSE Quote1.2 (0.82%)
    Oil India: Quotes, News
    BSE 179.05BSE Quote0.3 (0.17%)
    NSE 178.75NSE Quote0.05 (-0.03%)
    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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