BSE Sensex rises; oil marketing firms rise

Reuters Market Eye - The BSE Sensex gains 0.7 percent and the 50-share Nifty is up 0.8 percent.

ITC was up in early trade but is now flat. Recent media reports of price hikes in some categories of cigarettes, dealers say.

Indian oil marketing companies such as Hindustan Petroleum Corp Ltd gain on hopes recent slump in crude prices would lower the cost of under-recoveries.

Hindustan Petroleum gains 2.5 percent, Bharat Petroleum Corp Ltd is up 1.2 percent and Indian Oil Corp Ltd gains 1.2 percent.

Infosys Ltd gains 0.5 percent on value buying after the stock's recent due to the company's muted revenue guidance for 2013/14.

 

(Reporting by Subhadip Sircar)