At 9:57 AM, the S&P BSE Oil & Gas index was down over 1.54 per cent as compared to 0.5 per cent dip in the benchmark S&P BSE Sensex. Among individual stocks, Indian Oil Corporation slipped 4 per cent to Rs 124.75 on the BSE while Bharat Petroleum Corporation (BPCL) dropped 6.6 per cent to Rs 383.40. Hindustan Petroleum Corporation Limited (HPCL) was down 6.6 per cent to Rs 252.90. On the other hand, Oil and Natural Gas Corporation Limited (ONGC) gained 3 per cent to Rs 132.90.
Paint stocks also slumped. Asian Paints dipped the most 3 per cent to Rs 1,501.25 on the BSE. Berger Paints was down 2.7 per cent to Rs 361.50, and Kansai Nerolac slipped 4.8 per cent to Rs 467.40.
Similarly, tyre stocks were also trading in the red. While both JK Tyre Industries and CEAT slipped below 2 per cent, Apollo Tyres Limited and MRF were down 1 per cent each.