Shares of Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) decline as crude oil prices rise following US strikes on Iran, according to market reports. The stocks open slightly lower—nearly 2% down each—and extend losses during the session. By the time of reporting, each is down about 4% and trading in red. The price move is linked to crude oil climbing to around $76 per barrel, with one report noting a roughly 3% increase in oil prices to that level after the geopolitical development. The sell-off also reflects broader bearish sentiment in domestic frontline indices, which are described as trading weakly at the same time. Taken together, the reports indicate that investors are reacting to higher crude costs and the resulting pressure on the oil-marketing sector, while overall market risk sentiment remains cautious.
IOC, BPCL and HPCL shares fall about 4% amid crude oil rise after US-Iran strikes
Shares of Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) decline as crude oil prices rise following US strikes on Iran, according to mark...
- IOCL, BPCL and HPCL shares each trade around 4% lower.
- The stocks open nearly 2% lower before extending losses.
- Crude oil rises to about $76 per barrel after US strikes on Iran.
- Reports link the move to broader bearish sentiment in domestic frontline indices.
- The declines are attributed to market reaction to higher crude oil prices.
Shares of IOCL, BPCL, and HPCL opened nearly 2% lower each and extended losses to shed by 4% trade in red amid a broader bearish sentiment across the domestic frontline indices.
1 month agoShares of IOCL, BPCL, and HPCL opened nearly 2% lower each and extended losses to shed by 4% trade in red amid a broader bearish sentiment across the domestic frontline indices.
1 month ago
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