NEW DELHI: Losses in BPCL (down 3.39 per cent), HPCL (down 3.34 per cent) and Indian Oil Corporation (down 2.76 per cent) were keeping the BSE Oil Gas index down during Wednesday's trade.The BSE Oil Gas index was trading 1.02 per cent down at 14,377 around 11:30 am (IST).Shares of Castrol India (down 0.55 per cent), Reliance Industries (down 0.27 per cent) and Petronet LNG (down 0.11 per cent) were also in the red.Shares of oil marketing companies tanked amid a surge in global crude oil prices after President Donald Trump pulled the US out of the landmark Iran nuclear deal, giving rise to the risk of conflict in the Middle East.
The move may culminate into a decline in oil production by OPEC members.
Oil India (up 1.08 per cent), Indraprastha Gas (up 0.45 per cent) and ONGC (up 0.11 per cent) were the three stocks in the oil gas index that were in the green around that time.
Benchmark NSE Nifty50 index was up 3 points at 10,721, while the BSE Sensex was up 36 points at 35,252.In the Sensex index, 15 stocks were trading with gains, while 16 were suffering losses.