Market Now: IOC, RIL up 1%, keep BSE Oil & Gas index in the green

Gains in shares of Indian Oil CorporationBSE 1.20 % (up 1.18 per cent), Oil India (up 0.74 per cent), Reliance IndustriesBSE 1.07 % (up 0.65 per cent) and Bharat Petroleum CorporationBSE 0.60 % (up 0.34 per cent) were keeping the BSE Oil & Gas index up in Wednesday’s trade.

The BSE Oil & Gas index was trading 0.13 per cent up at 16,311 around 11 am (IST).

However, shares of Indraprastha GasBSE -0.86 % (down 0.91 per cent), Oil and Natural Gas CorporationBSE -1.28 % (down 0.88 per cent), GAILBSE -0.61 % (India) (down 0.58 per cent), Hindustan Petroleum CorporationBSE 0.50 % (down 0.14 per cent), Castrol India (down 0.14 per cent) and Petronet LNG (down 0.04 per cent) were down in the index around that time.

Benchmark BSE Sensex was 100 points down at 35,933, while the NSE Nifty50 index was 26 points down at 11,024.

Among the 50 stocks in the Nifty50 index, 19 were trading in the green, while 31 were in the red.

The benchmark indices were in the negative zone as participants trimmed positions ahead of the Union budget amid fresh outflow by foreign funds.

A weak trend in Asia coupled with an overnight sell-off on the Wall Street dampened the sentiment here.

DR. Reddy’s Laboratories, Coal India and Hindustan Unilever were among the top losers in the Sensex index.

Kotak Mahindra Bank, Bharti Airtel and Hero MotoCorp were leading the Sensex index.

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