Oil & Gas index down as markets trade in red
Shital Jibhe / 20 Jan 2017
The broader markets are struggling to hold onto the position but are still trading in red. As a result, the BSE Oil and Gas sectoral index is also underperforming the markets with heavyweight stocks in the sector losing on bourses.
The BSE Oil and Gas is trading at 12,586.40 levels and is down by -80.05 points or -0.63 per cent on January 20.
The broader markets are struggling to hold onto the position but are still trading in red. As a result, the BSE Oil and Gas sectoral index is also underperforming the markets with heavyweight stocks in the sector losing on bourses. Heavyweight stocks such as Indian Oil Corporation and Oil and Natural Gas Corporation (ONGC) are contributing 53 per cent to the downfall of the sectoral index.
Indian Oil Corporation, Castrol India, Oil India, Bharat Petroleum Corporation Limited (BPCL), ONGC are the top five stocks which are dragging the index down. Indian Oil Corporation is down by 1.29 per cent, Catrol India is down by 1.23 per cent, Oil India is down by 1 per cent, BPCL is down by 0.93 per cent and ONGC is down by 0.87 per cent.
Major stocks like Gail is up by 0.03 per cent, RIL is up by 0.02 per cent and are slowly crawling in the green zone.
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