Reuters market eye - Shares of state-run oil companies gain on hopes of better-than-expected results by sector leader Oil and Natural Gas Corp (ONGC.NS) later in the day.
Hopes of lower subsidy losses as crude oil falls help oil retailers.
Brent near 13-month trough below $103 on brisk supplies.
ONGC is up 1.8 percent, while Oil India (OILI.NS) is up 1.2 percent.
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