Stocks of OMCs rise 4% after Trump announces pause on Iran strikes

The stocks of three state-run oil marketing companies (OMCs) surged on Tuesday after US President Donald Trump announced a five-day pause on strikes against Iranian power plants and energy infrastructure. Hindustan Petroleum's stock jumped by nearly 4%, the same as Bharat Petroleum. Indian Oil's stock also increased by 3.5% intraday. Notably, oil prices fell below $100 after Trump's announcement.