09 Apr , 2026 By : Debdeep Gupta
Shares of oil marketing companies, including Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), declined on Thursday as investors remained cautious amid renewed geopolitical concerns and uncertainty over resumption of regular flow at the Strait of Hormuz.
Oil marketing companies came under pressure as tensions in West Asia pushed crude oil prices higher again, raising concerns over a squeeze in refining and marketing margins.
Shares of Hindustan Petroleum Corporation fell up to 1 percent to Rs 362.5 per share on the NSE. Indian Oil Corporation dropped up to 0.77 percent to Rs 142.24, while Bharat Petroleum Corporation traded on a flat note.
Brent crude rose 2.09 percent to USD 96.73 per barrel. Higher oil prices are seen as negative for India, the world’s third-largest crude importer, as they could widen the fiscal deficit, stoke inflation and weigh on economic growth.
Investor sentiment turned cautious after Iran said it would be "unreasonable" to pursue talks with the United States following Israel’s strikes on Lebanon.
Conflicting signals ahead of planned US-Iran talks on Saturday, including Tehran’s warning of retaliation, have raised concerns that any ceasefire may be temporary.
"The fresh uncertainty around the durability of the Iran war de-escalation has limited follow-through optimism in markets and kept sentiment in check," said Hariprasad K, founder of Livelong Wealth.
Shares of Eternal also declined 1.5 percent to Rs 240.03 per share on the NSE. The ongoing crisis has impacted restaurant operators, which rely on LPG for kitchen operations, while food delivery platforms have also been affected due to disruptions faced by restaurant partners, potentially impacting order fulfilment.
0 Comment