OMCs hit record high on rise in oil prices

by - 2:30 pm

Shares of oil marketing companies such as Oil Natural Gas Corporation and Oil India hit fresh 52-week high on the Bombay Stock Exchange following OPEC and Non-OPEC deal to cut crude oil production which pushed oil prices higher. Following surge in oil prices, shares of ONGC gained as much as 2.46 % to hit 52-week high in intra-day at Rs 314.45 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company rose 1.95% to Rs 312.75 apiece on the National Stock Exchange. Among others, Oil India surged 2.44% and touched 52-week high of Rs 453.80 per share on the BSE. Meanwhile, the broader benchmark BSE Sensex was trading at 26,620.40, down 126.78 points, or 0.47 %, at 12:14 hours.

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