Sell the News

The Govt hiked petrol prices by Rs.7.50 Rs/Liter.

The markets reacted as usual by selling the news.The price action of the PSU refiners were:

IOC:      -1.32%

HPCL:   -1.74%

BPCL:   -0.03%

And this on a day when the Nifty is up by 1.77% !!