Mumbai, June 08: The oil counters today closed down nearly 3 per cent, spooked by the government indecision on taking a decision to free fuel prices from government control.
Shares of state-run ONGC closed at Rs 1,165.65, down 1.32 per cent, while HPCL lost 2.49 per cent to Rs 347.95 on the Bombay Stock Exchange.
Yesterday, a panel of ministers deferred a decision on raising fuel prices due to a lack of quorum, even though it appeared there was consensus on freeing petrol prices from government control and a hike of up to Rs 2 a litre in diesel rates.
The BSE Oil&Gas Index fell by 163.97 points, or 0.98 per cent to 16,617.10 points.
Other oil stocks which closed in the negative are RIL down 1.28 per cent, IOC down 1.76 per cent, and BPCL 3.29 per cent.
Meanwhile, the 30-share index Sensex closed at 16,617.
–Agencies