Stock market update: Oil & gas stocks rise; GAIL jumps 2%

NEW DELHI: A majority of oil & gas stocks were trading with gains during Friday's trade, keeping the sectoral index up.

Globally, crude oil prices softened a little on Friday.

Global oil prices eased on Friday as Russia hinted it may gradually increase output, Reuters reported.


The BSE Oil & Gas index was trading 0.52 per cent up at 13,596 around 11 am.

Shares of GAIL (India) (up 1.89 per cent) was the top gainers in the index.

GAIL on Thursday reported nearly fourfold jump in net profit at Rs 1,021 crore for March quarter.

Oil India (up 1.68 per cent), Castrol India (up 1.32 per cent), Indian Oil Corporation (up 1.31 per cent) and Indraprastha Gas (up 1.09 per cent) climbed over 1 per cent.

Shares of ONGC (up 0.51 per cent) and Reliance Industries (up 0.29 per cent) were also in the green.

However, HPCL (down 0.80 per cent), Petronet LNG (down 0.54 per cent) and BPCL (down 0.18 per cent) were under pressure.

Benchmark BSE Sensex was up 185 points at 34,849, while the NSE Nifty50 index was up 54 points at 10,568.

In the Sensex index, 23 stocks were in the green, while 8 in the red.

Tata Steel, Infosys and Tata Motors were among the top gainers in the Sensex index.

State Bank of India, ITC and Coal India were among the top Sensex losers.