"brent-crude-oil"

Opens at 83.94 against the greenback, touches 83.93, registering a rise of 2 paise over its previous closing price

Sensex tanks 2,401.49 points to 78,580.46 in early trade, NSE Nifty tumbles 489.65 points to 24,228.05

Forex traders say strength of dollar in overseas market, elevated crude oil prices weigh on local unit and restrict appreciation bias

After a day's breather, the 30-share BSE Sensex declined 161.41 points to 66,266.68. The Nifty skidded 36.7 points to 19,774.80.

The expectation for the crude was that it may surge in 2021 on the back of economies recovering as vaccinations tamed the spread of Covid-19.

ONGC intends to start natural gas sale from its KG-DWN-98/2 block, which sits next to Reliance Industries Ltd (RIL)-BP Plc operated KG-D6 fields, from June-end.

Petrol price was hiked by 30 paise per litre and diesel by 26 paise, according to a price notification of oil marketing companies.

This is the fifth straight day of price hike and the 14th increase in rates since November 20 when oil companies resumed daily price revision after nearly two-month hiatus.

This is the highest rate for petrol and diesel since September 2018 and followed the 13th increase in rates since November 20.