Crude oil up 19.5%, Sensex down 200 points
London-based crude oil futures rose 19.5 to $ 71.95 a barrel, according to a report from London. This is the largest rise since January 14, 1991, during the Gulf War. American crude futures jumped 15.5 percent 63.34 dollars a barrel. This is the largest gain since June 22, 1998.
On the domestic front, the Sensex fell 180.43 points to 37,204.56 points and reached 37111.29 on the domestic market. ONGC’s share in oil production companies was up 2.41 percent while oil mixing companies I got shares of state-owned Indian Oil 3 per cent, India Petroleum and India Petroleum shares 6-6 per cent cheaper.
Reliance Industries, a private company trading in oil and petroleum, fell two percent higher.