Shares of oil marketing companies and paint manufacturers declined up to 3 per cent in early trade on Friday after petrol and diesel prices were increased by ₹3 per litre across the country.
The fuel price hike, the first in more than four years, amid mounting losses suffered by fuel retailers due to elevated global crude oil prices.
On the BSE, shares of Bharat Petroleum Corporation Ltd declined 2.71 per cent, Hindustan Petroleum Corporation Ltd dipped 2.39 per cent, Indian Oil Corporation fell 1.85 per cent.
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