Shares of oil marketing companies HPCL, Indian Oil Corporation and BPCL surged by up to 6.3 per cent today after global crude prices plunged.
The BSE Sensex retreated from record high to end flat at 36,541.63 today as investors booked profits in recent gainers despite firm global cues.
Shares of oil marketing and airline companies gained up to 4.7 per cent today after crude oil prices posted their biggest one-day drop in two years.
Sensex defied gravity for the fifth straight session to close at a fresh lifetime high today as investors poured money into energy and financial shares amid a robust start to the earnings season.
The BSE Sensex vaulted over 282 points to end at a record high of 36,548.41 today on robust buying in energy, oil and gas and banking stocks.
The key Indian equity indices traded on a flat-to-negative note afternoon tracking weakness in the benchmark global markets and ressurgent concerns of a global trade war.
The FTSE 100 .FTSE fell 0.4 percent, while the STOXX 600 edged down 0.1 percent.
The FTSE 100 .FTSE fell 0.3 percent by 0900 GMT while the STOXX 600 edged up 0.1 percent.
Oil stocks tumbled up to 11% following reports that the govt may levy a windfall tax on oil producers as part of a permanent solution it is working on for moderating the spiralling retail oil prices.
European shares were supported on Wednesday by strength in oil stocks after U.S. President Donald Trump pulled the United States out of Iran’s nuclear agreement, boosting crude prices.