PSU Oil Stocks Trade Higher In Morning Hours

PSU oil stocks were in limelight during the early hours of morning trade on Friday. Petrol prices in the country were cut by Rs 1.12 per litre, while diesel prices were cut by Rs 1.24 per litre in the last fortnightly revision of prices on June 15, 2017.

S&P BSE Oil and Gas index is trading higher by 0.58% at Rs 13739 level as of 0946 hours on Friday. Hindustan Petroleum Corporation Limited is the top gainer in the index trading higher by 2.5% at around Rs 531 per share.

IOC is a top contributor to the index gains trading higher by 1.5% at Rs 413.3 per share. Other oil marketing company stocks like BPCL, IGL, GAIL, ONGC are also trading higher by around 1% in the morning hours on Friday.

Meanwhile, Nifty and Sensex are trading marginally higher by 19 and 31 points, respectively in the morning hours on Friday.

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