• Source:JND

ONGC Share Price: The shares of ONGC and other oil companies soared during the intraday trade on Tuesday despite a sell-off in the equity market. The rally was in oil stocks was seen after government move to reduce royalty rates for crude oil and natural gas production from multiple categories of fields, including deepwater and ultra-deepwater blocks to boost domestic exploration and production, the government has reduced royalty rates.

Oil Stocks Today

ONGC Share Price: The shares of Oil and Natural Gas Corporation (ONGC) surged over 6 per cent in early trade. Last seen, the stock was trading at Rs 297.45, Rs 16.45 or 5.85 per cent. Meanwhile, its 52-week high and low values stood at Rs 307.50 and Rs 228.61, respectively. 

Also Read: How Gold, Fuel And Foreign Travel Impact India’s Forex Reserve; Understand Significance Of PM Modi’s Appeal

Oil India Share Price: The shares of Oil India were trading sharply higher on the back of buying interest. At the time of writing, the oil stock was trading at Rs 494.40, up Rs 38.40 or 8.42 per cent. Meanwhile, its 52-week high and low values stood at Rs 524 and Rs 384.60. 

Share Market Crash

The domestic equity indices were trading sharply lower in afternoon trade amid broad-based selling as investor sentiment dragged due to uncertainty around geopolitical concerns and Prime Minister Narendra Modi's austerity call.

At the time of writing, key equity indices--Sensex and Nifty--were trading over a per cent lower. BSE Sensex was quoted at 74,976.74, down 1038.54 points or 1.37 per cent. Nifty50 quoted at 23,518.70, 297.15 points or 1.25 per cent.

Also Read: Stock Market Continues Losing Momentum On Weak Global Cues; Sensex Down 670 Points

Disclaimer: This story is for informational purposes only. It should not be considered as investment advice. 


Also In News