Mumbai: Stocks of oil and gas companies have moved greater by up to 5% in late noon deals on the Bombay Stock Exchange (BSE). Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOCL), Oil & Natural Gas Corporation of India (ONGC), Reliance Industries (RIL) & Gail India are up among 2-5%.
The S&P BSE oil and gas index, the biggest gainer amid sectoral indices, has surged 3% or 346 points compared to 1.4% increase in benchmark S&P BSE Sensex at 1515 hours. As per to Bloomberg review, West Texas Intermediate fell among speculation that last week’s improve to the highest level in 9 months was extreme. Brent decreased in London on signs Iraqi forces will slow the advance of insurgents.
Amid the individual shares, ONGC has rallied almost 5% to Rs 447 on the BSE. IOC, BPCL & HPCL have obtained 4% each, although Gail India & RIL up 2.4% each.
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