Fall in oil price may lead to more upside for mkt: Antique

The Brent crude prices fell by more than 2 percent on Monday following a key deal between world powers and Iran on its controversial nuclear programme. This led to a rise in the share price of state-run oil marketing companies. At 12:00 hrs, HPCL is up 6.3 percent, BPCL is up 4.9 percent) and Indian Oil Corporation is up 3.11 percent.Also Read: Obama says Iran nuclear deal first step toward comprehensive solutionAccording to Dhirendra Tiwari, head of Research, Antique Institutional Equities, crude coming off is positive as it is one of the key constituents of inflation. The fall will have a positive impact not only on prices of petroleum products by anybody who is using oil in a major way. He says the move is definitely positive as it will have implications on the overall economy. If crude continues to be soft, we will have some more upside, adds Tiwari.