RIL gains for second straight session, ONGC hits all-time high

Shares of Mukesh Ambani-led Reliance Industries (RIL) today gained nearly one per cent on the Bombay Stock Exchange, helping the benchmark Sensex end with a gain of 72.20 points.

The energy major settled the day higher by 0.79 per cent at Rs 1,009.55 on BSE. During the day, the scrip had risen by 1.72 per cent to a high of Rs 1,018.90.

RIL, which holds the maximum weight in the Sensex, had on Friday ended with a gain of 0.14 per cent at Rs 999.10.

"The rise in the stock was because of the short-covering seen in the counter," Geojit BNP Paribas Research Head Alex Mathews said.

Shares of the country's most valued firm finished at Rs 1,010, up 0.83 per cent, on the National Stock Exchange.

On the volume front, over 43 lakh shares of the company were traded on the two bourses.

State-owned Oil & Natural Gas Corporation (ONGC), which is only behind RIL in terms of market capitalisation, too, saw a smart trading session and hit its lifetime peak at Rs 1,466.40. It later closed at Rs 1,457.50, up 1.40 per cent from previous close.

Besides, most of the oil and gas companies ended the day on a positive note after remaining firm throughout the day.

IOC surged by 2.62 per cent, Cairn India was up 1.43 per cent, GAIL (India) 0.01 per cent. However, defying the trend, BPCL ended down 0.06 per cent and HPCL edged lower by 0.09 per cent.

Led by gains in these stocks, the BSE-Oil & Gas index finished higher by 90.85 points at 10,736.55.

Meanwhile, the BSE-30 share barometer Sensex extended its gaining spree for the second consecutive day and settled up by 72.20 points at 20,117.38 points.