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• Shares of three state-run oil marketing companies fell 0.83% to 1.65% at 11:17 IST on BSE after crude oil price rose more than 1% to settle at $99.41 a barrel on the New York Mercantile Exchange on Friday, 9 December 2011.HPCL (down 1.65% to Rs 289), BPCL (down 1.15% to Rs 546.80) and Indian Oil Corporation (down 0.83% to Rs 267.85) edged lower.Meanwhile, the BSE Sensex was down 50.18 points, or 0.31% to 16,163.28.HPCL had underperformed the market over the past one month till 9 December 2011, falling 6.99% compared with the Sensex's 6.62% fall. The scrip had also underperformed the market in past one quarter, sliding 18.54% as against 3.87% decline in the Sensex.Indian Oil Corporation had outperformed the market over the past one month till 9 December 2011, falling 6.22% compared with the Sensex's 6.62% fall. The scrip had, however, underperformed the market in past one quarter, sliding 13.55% as against 3.87% decline in the Sensex.
• BPCL had outperformed the market over the past one month till 9 December 2011, falling 2.92% compared with the Sensex's 6.62% fall. The scrip had, however, underperformed the market in past one quarter, sliding 16.46% as against 3.87% decline in the Sensex.Higher crude oil prices will increase under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of diesel, LPG and kerosene at controlled prices. Meanwhile, a weak rupee further impacts PSU OMCs as the crude oil that refineries process is either imported or priced on import-parity. Crude oil futures for January 2012 delivery rose $1.07 a barrel or 1.09% to settle at $99.41 a barrel on the New York Mercantile Exchange on Friday, 9 December 2011.

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