Reuters Market Eye - The BSE Sensex gains 0.62 percent, while the 50-share Nifty is also up 0.57 percent.
Reliance Industries (RELI.NS) gains 0.6 percent, while Oil and Natural Gas Corp (ONGC.NS) is up 1.7 percent, on hopes of a favourable federal budget.
Gains also track positive Asian shares and other risk assets as sentiment improved after U.S. Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to strong stimulus.
Technology shares gain, Infosys Ltd (INFY.NS) up 0.7 percent on expectations the budget would provide incentives to exporters.
(Reporting by Abhishek Vishnoi)
BP unit selling up to $261 million stake in Castrol India - termsheet
MUMBAI Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters.
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