Shares of HPCL, BPCL, IOC open in green despite market sell-off - Here's why
The 30-share BSE Sensex tanked 926.92 points to 74,346.53 in early trade, while the 50-share NSE Nifty dropped 280.95 points to 23,025.50.
Shares of state-run Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) opened hire on Friday, March 27, 2026 despite benchmark indices Sensex and Nifty tumbling in early trade after a two-day rally, tracking a weak trend in global peers, as the US-Iran conflict continues to be a key overhang for the markets. The 30-share BSE Sensex tanked 926.92 points to 74,346.53 in early trade, while the 50-share NSE Nifty dropped 280.95 points to 23,025.50. The shares of these oil marketing companies (OMCs) opened higher, tracking the excise duty cut of Rs 10 per litre.
HPCL Share Price Today
Shares of Hindustan Petroleum Corporation Ltd opened gap up with a gain of 2.47 per cent today at Rs 352.70 against the previous close of Rs 344.20 on the BSE. It later touched the high of Rs 357.60, representing a gain of 3.89 per cent.
BPCL Share Price Today
Shares of Bharat Petroleum Corporation Ltd opened in the green at Rs 289, up from the previous close of Rs 284.60. It later touched an intraday high of Rs 298.45, representing a gain of 4.87 per cent.
IOC Share Price Today
Shares of Indian Oil Corporation Ltd started the trading session at Rs 142.45, up from the previous close of Rs 140.65. It later touched the intraday high of Rs 144.15, representing a 2.49 per cent gain.
However, these shares fell amid profit booking later.
Surge in crude oil prices
International oil prices touched USD 119 per barrel earlier this month on the intensifying Iran war, before pulling back to around USD 100 a barrel. India imports 88 per cent of its crude oil needs and roughly half of its natural gas requirement. These mostly come via the Strait of Hormuz.
Following the US and Israeli attacks on Iranian government, military and nuclear facilities, Iran warned shipping away from the strait, and insurers withdrew coverage, effectively halting tanker movements.