10
NEW DELHI: Shares of Indraprastha Gas (IGL) (down 2.62 per cent), Oil India (down 1.52 per cent), Indian Oil Corporation (IOC) (down 1.31 per cent) and Petronet LNG (down 1.28 per cent) were incurring losses in afternoon trade on Thursday.
The BSE Oil Gas index was trading 0.32 per cent down at 14,813 around 02:30 pm.
HPCL (down 1.20 per cent), ONGC (down 0.93 per cent), Reliance Industries (down 0.58 per cent) and Castrol India (down 0.45 per cent) were also in the negative zone.
However, GAIL (India) (up 3.96 per cent) was bucking the trend.
State-run gas utility firm GAIL (India) shares rose as much as 5.16 per cent to Rs 399.40, their highest since March 20, 1997.
The stock broke above a resistance at Rs 392.2, the 38.2 per cent Fibonacci projection level of the uptrend from August 25, 2015 low to December 28, 2017 high (wave 1), said a Reuters report.
The oil and gas major last week had reported 22.8 per cent year-on-year (YoY) rise in standalone profit at Rs 1,259.25 crore for June quarter, in line with Rs 1,262 crore PAT projected by analysts in an ETNow poll.
Sensex suffered more losses during the last hour of Thursday's session.
HDFC twins, Reliance Industries and Kotak Mahindra Bank were among the top drag on the benchmark.
The BSE Sensex was 110 points down at 37,742, while the NSE Nifty50 index was down 35 points at 11,400.
Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red.
In the Sensex index, 15 stocks were advancing, while 16 were declining.
