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BSE Oil & Gas Index rises

March 3, 2010

INDIA-STOCKS/

The BSE Oil & Gas index rose for the third consecutive day and ended 2.2 percent higher while the broader market closed 1.3 percent up.

The rise in the index was led by Reliance Industries, GAIL, Aban offshore and Cairn India.

Shares in Reliance Industries were boosted on Wednesday as investor fears the energy major would overpay for LyondellBasell were allayed after the petrochemicals firm was said to have rejected its offer.

Shares in the counter ended 3.9 percent higher at 1,021 rupees.

The sectoral index has dropped over six percent this year. Reliance Industries and GAIL dropped over 6 percent and 3 percent respectively in the same period.

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