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Oil and gas index slips 2.5 pct

June 1, 2010

Shares of oil and gas firms came under pressure on Tuesday because of profit booking, which sent the sectoral index down 2.5 percent.

Energy major Reliance Industries fell more than 3 percent and ended as the top loser in the sector.

The benchmark Sensex snapped a four-day winning streak and fell 2.2 percent on renewed doubts over the pace of global recovery.

Some of the other big losers were Cairn India, which slipped more than 3 percent, and Aban Offshore which closed down 2.9 percent.

Reliance Natural, IOC and HPCL were the only three stocks that closed in the green in oil & gas index.

Do you think it is a good time to take advantage of this fall and buy these counters?

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