Indian shares gain; state-run oil cos surge for 2nd day

MUMBAI Fri Jan 18, 2013 3:41pm IST

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MUMBAI Jan 18 (Reuters) - Indian shares rose on Friday, led by gains in state-owned oil and gas companies such as ONGC, which surged for a second consecutive session after the government's diesel price hike was seen reducing their subsidy burden.

Producer Oil and Natural Gas Corp Ltd and Oil India Ltd provisionally closed up 7.3 percent each.

Among refiners, Hindustan Petroleum Corp Ltd gained 5.6 percent, and Indian Oil Corp rose 10.8 percent, while Bharat Petroleum Corp Ltd ended 10.4 percent higher.

The BSE index provisionally gained 0.26 percent to close above 20,000 level for the first time since Jan. 6, 2011, while the 50-share NSE index ended up 0.42 percent. (Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)

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