While the steep hike in petrol prices has left auto sector and the consumers fuming, oil and gas stocks surged in early morning trade today.
It was not only the oil marketing companies but also oil exploration and production companies that gained because of the decision.
BPCL was the biggest gainer among OMCs, up by Rs 17.10 to Rs 739. HPCL moved up to Rs 316.50, a gain of Rs 7.20 and Indian Oil Corporation was trading at Rs 279.50, a gain of Rs 6.05.
Oil India Ltd was another major gainer with the stock jumping by Rs 13.95 to Rs 461.
The other stocks in the green were GAIL that was up by Rs 6.75 at Rs 330.70 and ONGC which was up by Rs 6.65 at Rs 249.65.
However, Cairn India shed Rs 3.60 to trade at Rs 316.65. RIL was relatively subdued, gaining just Rs 2.35 at Rs 689.55.