MUMBAI Jan 18 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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For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. But after political compromises that finally got a goods and services tax (GST) bill before parliament, they have turned wary. Full Article