Bharat Petroleum Corporation and Hindustan Petroleum Corporation dipped while Indian Oil Corporation rushed up.

Higher crude oil costs will raise under-recoveries of state-led oil companies on Indian sale of LPG, petrol, diesel and kerosene at a proscribed cost.

65817 shares have been traded on BSE in the counter as opposed to a standard everyday volume of 5lakh shares in the last single quarter.

The government has selected Hindustan Petroleum Corp, Indian Oil Corp and Mangalore Refinery and Petrochemicals to buy crude oil from Cairn India’s Rajasthan mines.

The BSE Sensex was seeing some selling stress in the midst of jerkiness at 11:51 hours IST.

The instability carried on in the Sensex although it traded down due to profit booking at 11:48 hours IST.

Bulls are looking grim after a two-week rally.

The benchmark indices traded severely down due to the ongoing selling stress in all the sectors except for oil marketing, cement companies and select auto; particularly banking, capital goods, metal, realty, power and technology at 12:16 hours IST.

Buying in metal, oil & gas, realty, power and select banking stocks was pushing the markets, however selling in technology, cement stocks along with Maruti, HDFC, ITC, L&T, Tata Motors, Suzlon and Tata Power capped the profits at 11:59 hours IST.

HPCL will devote Rs.614crore in the 2 sugar mills it had purchased in Bihar to produce ethanol that will be mixed with petrol.