Look at HPCL, Cairn India: Phani Sekhar

P Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "It is very interesting that on one hand you have oil marketing company doing well which is HPCL and on the other hand Cairn India is also doing well. So either one of the things has to be true which is oil is either going up or it is going down."

On Wednesday, Cairn India closed at Rs 221.30, up Rs 1.60, or 0.73 percent. It has touched an intraday high of Rs 224 and an intraday low of Rs 217.10.