The BSE Oil & Gas Index ended 1.79 percent up in a broader market that closed 0.68 percent higher at 16519.
Sources tell us that oil behemoth Exxon Mobil won the bidding in an auction for Kosmos Energy’s stake in the Jubilee field in Ghana, one of the biggest oil discoveries in recent years. Analysts have said the stake could be worth up to $5 billion.
The BSE Sensex erased early losses to end flat, tracking global markets as concerns about the prospects for an economic recovery pushed key indices into negative territory.
The market remained volatile ahead of the expiry of the current months derivative contract on Thursday. The rise in the benchmark was led by Reliance Industries, HDFC, BHEL and ONGC.