At 1:14 PM today, Bharat Petroleum Corporation Limited (BPCL) saw a significant dip in its stock price, falling 4.77% to ₹350.70, wiping off ₹7,486 crore from its total market capitalization. The company’s market cap now stands at ₹1,52,173.08 crore.
Stock performance details
- Open: ₹353.75
- High: ₹361.60
- Low: ₹350.25
- Previous close: ₹368.25
BPCL shares opened at ₹353.75 and saw a high of ₹361.60 during early trading hours before dropping to a low of ₹350.25, reflecting investor concerns over the ongoing Middle East tension.
Middle East tensions impact BPCL’s stock
The sharp decline in BPCL’s stock is largely attributed to the rising tensions in the Middle East, particularly due to the escalating Iran-Israel conflict. The market is reacting to potential disruptions in crude oil supplies, as the region is one of the major oil producers globally. With crude oil prices rising, concerns over the increased cost of raw materials for oil companies like BPCL have led to a bearish sentiment among investors.
Disclaimer
Investing in stocks involves risks, and stock prices are subject to market fluctuations. Please do your own research or consult with a financial advisor before making any investment decisions. The information provided in this article is for informational purposes only and does not constitute investment advice. The author and publication are not responsible for any losses incurred based on the information provided in this article.
