HPCL shares tanked 11.25 per cent to Rs 198.80, while
BPCL was down 8.95 per cent to Rs 309.70 on the BSE.
Shares of IOC also nosedived 8.33 per cent to Rs 195.35.
"Oil marketing companies such as HPCL was down over 11
per cent, BPCL and IOC down 9 per cent each. These companies import large quantities of crude oil and rise in USD/INR rates makes it expensive to do that," said Nagji K Rita, Chairman & MD, Inventure Growth & Securities.
Rupee fell below 60-level to a dollar after around three
weeks and closed at 60.48, down 1.79 per cent. On July 8, it
had touched all-time low of 61.21 to a dollar. Meanwhile, the broader market was also weak with the BSE
benchmark Sensex plunging 244.94 points to 19,348.34.