Indian shares gain; oil stocks surge
MUMBAI Jan 17 (Reuters) - Indian shares rose on Thursday, led by gains in state-run oil companies after the government allowed them to set diesel prices, despite uncertainty about the specifics of the announcement.
Bharat Petroleum Corp provisionally rose 3.6 percent, Indian Oil Corp rose 6.5 percent, while Hindustan Petroleum Corp ended 5.1 percent higher.
Shares in Reliance Industries also rose 3.1 percent ahead of its December quarter earnings on Friday.
The BSE index provisionally gained 0.67 percent, while the 50-share NSE index ended up 0.57 percent. (Reporting by Abhishek Vishnoi; Editing by Anand Basu)
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As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article